Omega confirms Canopius approach

Omega has confirmed a possible approach by rival insurer Canopius, in a statement to the Stock Exchange this morning (Monday).

The Lloyds insurer said: “The directors of Omega have noted the recent press comment in relation to a possible offer for the company from Canopius . The company confirms that it has received an unsolicited approach from Canopius proposing an offer comprising a mixture of cash and unquoted share consideration.”

The statement added: “There is no certainty that an offer will be forthcoming, nor as to the terms of any such offer. Whilst any approach which may be in shareholders' interests will be duly considered, the board continues to build the business. The board has consulted with Invesco Perpetual, the company's largest shareholder, who is supportive of that position.”

It concluded: “A further announcement will be made if appropriate.”