Neil Utley and backers Fieldstreet confirmed today they had received valid acceptances...
Neil Utley and backers Fieldstreet confirmed today they had received valid acceptances for 90% of the total share capital of Cox Insurance holdings.
Utley can now effectively force the remaining share holders to sell up, making the offer unconditional in all respects.
It is understood Utley will now be looking to de-list Cox from the London Stock Exchange.
Remaining members of Cox's board will be forced into retirement.
Utley told Insurance Times: “This is fantastic news. It's going to be a good weekend!"