FTSE 100-listed insurer Hiscox’s shares leap amid report of takeover bid
Summary
Hiscox, a UK insurance company, saw its share price rise sharply due to news that Canada’s Intact Financial Corp is considering buying it. This comes during a period of increased foreign interest in British companies, with other firms like Tate & Lyle and Intertek also involved in takeover talks.Key Facts
- Hiscox shares rose by up to 15.3% to a record high after takeover talks were reported.
- Intact Financial Corp, a Canadian insurance company, may acquire Hiscox to grow its business.
- The takeover report came from the Insurance Post, and Hiscox has not yet commented.
- Foreign companies are showing strong interest in buying UK-listed businesses right now.
- Tate & Lyle, a UK ingredients company, received a £2.7 billion offer from US firm Ingredion, pushing its shares up 45%.
- Intertek, a UK laboratory testing company, is considering a £10.6 billion offer from Swedish investor EQT.
- Intertek had previously rejected offers but is now leaning toward recommending the deal to shareholders.
- Activist investor Matt Peltz has urged Intertek to accept the takeover offer.
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