Brit has won its takeover battle for specialist liability insurer PRI.
PRI, which was started just last summer, today said its board would recommend accepting the offer.
It had previously asked its ...
Brit has won its takeover battle for specialist liability insurer PRI.
PRI, which was started just last summer, today said its board would recommend accepting the offer.
It had previously asked its shareholders to sit tight while it considered its options, having announced it had received a rival bid.
But talks with the rival were ended earlier today, it said.
PRI said in a statement: "In light of the significant support from PRI shareholders for the offer from Brit and in the absence of any higher competing offer having been forthcoming, the board is intending to recommend Brit's offer."
Brit had claimed the support of shareholders representing 58% of PRI's ownership.
