Rumours are swelling that Aspen Insurance could be on the verge of a takeover
Aspen Insurance’s share price jumped 5.5% today amid takeover talk.
News broke yesterday in an article on the Insurance Insider that the struggling firm were in talks with several interested groups about a takeover, and was preparing to run a bid process.
The article stated Aspen was being advised by Goldman Sachs and JP Morgan in the deal and has already been approached by at least one strategic bidder and two equity houses.
Aspen has refused to confirm or deny rumours they could be on the verge of a takeover.
A spokesperson for Aspen said: “We have no comment to make. The article is highly speculative and we don’t comment on market rumour.”
Aspen’s share price jumped from 42.45 to 45.50 in the space of an hour yesterday, ending at 45, up 5.51% on the day’s opening.
The company have been through a difficult period recently, with Stephen Postlewhite leaving his role as chief executive in January amid results which ‘deeply disappointed’.