Wood has accepted a takeover bid priced at £ 2.80 ( $ 3.56 ) per share , valuing the company at £ 1.2bn , from Bain Capital . The insurance entrepreneur Sir Peter Wood is staying on as chairman of Esure and taking a £50 million bet on the future of the company he founded as it confirmed it had agreed to accept a £1.2 billion offer from Bain Capital, the private equity investor. If the deal goes ahead , Sir David Wood , founder of the company and its largest shareholder , will remain as chairman and reinvest £ 50 m of his £ 100 m investment in the company .
Wood has accepted a takeover bid priced at £ 2.80 ( $ 3.56 ) per share , valuing the company at £ 1.2bn , from Bain Capital . If the deal goes ahead , Sir David Wood , founder of the company and its largest shareholder , will remain as chairman and reinvest £ 50 m of his £ 100 m investment in the company .