Lloyd's insurer says Ironshire bid is off
Heritage has announced it has received preliminary approaches from a number of potential buyers following confirmation that Ironshire has abandoned its takeover bid.
Last month Ironshore made a bid for the company, reportedly valued a at 135p per share, which was rejected on the grounds it undervalued the business. A revised offer was also unsuccessful.
In a statement to the Stock Exchange Heritage said: "However other approaches have been received which may lead to an offer for the shares in the Company."
It added that discussions were at a preliminary stage, and there was no certainty as to the terms of any offer.
Heritage confirmed that it had been informed by the Ironshore board on 18 January that no further bids from the company would be forthcoming.
In a statement Ironshore said: "Based on public information and discussions with Heritage it has become clear that the parties are unable to reach agreement on the terms of a recommended offer. Ironshore confirms that it has no current intention of making an offer for Heritage."
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