Alto needs more time to arrange financing
The deadline for Alto Intermediary Group’s takeover deal of Cobra has been extended to give the company more time to arrange financing, according to a London Stock Exchange announcement.
The announcement of a firm offer was set to happen today, but has been put back to 7 June.
The stock exchange alert said: “There can be no certainty that any offer will be made for the company.”
Towergate pulled out of the bidding for Cobra earlier this month, leaving Alto as the only bidder in the running.
Cobra’s market capitalisation is £9.1m
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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