Esure has recommended a takeover bid priced at £ 1.2bn ($ 360 ) per share, valuing the company at £ 1.2bn , from the Future Fund . 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 Sheilas’ Wheels , founder of the company and its largest shareholder, will remain as chairman and reinvest £50m of his £ 2.80 m stake in the company.
Esure has recommended a takeover bid priced at £ 1.2bn ($ 360 ) per share, valuing the company at £ 1.2bn , from the Future Fund . If the deal goes ahead, Sir Sheilas’ Wheels , founder of the company and its largest shareholder, will remain as chairman and reinvest £50m of his £ 2.80 m stake in the company.