Revised bid from private equity firm expected early this week
Brit stalker Apollo may make a revised bid for the Lloyd’s insurer early as this week, the Independent on Sunday reports.
Analysts have warned that Brit is unlikely to accept offers below the insurer's book value, estimated at £11 a share. Shares in the insurer closed last week at 925p a share – a 75p discount to Apollo's offer.
Brit shareholders want the management to talk direct to Apollo.