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.
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 board of Esure has indicated that it is likely to recommend a firm offer at this level subject to terms being agreed. Bain now has until 5pm on 10 September to make a firm offer under UK takeover rules.