Offer deadline extended to mid-November

Lloyd's building

Lloyd’s broker THB will continue takeover talks with potential suitor AmWINS after extending its offer deadline to 14 November.

THB announced it had received an approach from AmWINS, a US-based insurance broking conglomerate, on 12 July, but a firm offer has yet to emerge.

The original deadline was today, however in a statement to the London Stock Exchange this morning, THB said: “THB and AmWINS have since continued to progress their negotiations to arrive at a possible announcement under Rule 2.7 of the Code. However, certain pre-conditions still remain outstanding at this stage.  It is anticipated that the negotiations will be completed by mid-November.”

It added: “In view of the small number of issues remaining to be negotiated, THB and AmWINS have agreed that no further extension to this deadline will be sought and THB has advised the panel accordingly.”