Chaucer Holdings was today subject to an all-share takeover bid by insurer Amlin, according to market sources.
Both Chaucer and Amlin have declined to confirm on the offer at this stage.
Amlin shares were down 0.54% at 181 3/4 pence at 13.53pm, while Chaucer shares, which had risen more than 11% in early trade, were nearly 8% higher at 65 1/2 pence, according to Reuters.
Chaucer attempted to buy Highway insurance in April 2005, but its offer was rejected.
