Esure announced it is in advanced takeover talks with private equity group Bain Capital. Bain has made an unsolicited bid of 280p a share representing a 37% premium to Friday’s closing price and valuing the company at £1.17bn ($1.49bn). The deal would see Esure’s UK business split into two separate companies: one focused on providing services for people who have had heart surgery, while another will focus on helping patients manage their post-surgery recovery. Its stock was up 31.1 percent at 267.6 pence at 1220 GMT, the biggest rise on London's midcap index .FTMC. Bain now has until 5pm on 10 September to make a firm offer under UK takeover rules.
Esure announced it is in advanced takeover talks with private equity group Bain Capital. Bain has made an unsolicited bid of 280p a share representing a 37% premium to Friday’s closing price and valuing the company at £1.17bn ($1.49bn). The deal would see Esure’s UK business split into two separate companies: one focused on providing services for people who have had heart surgery, while another will focus on helping patients manage their post-surgery recovery. Bain now has until 5pm on 10 September to make a firm offer under UK takeover rules.