Esure has recommended a takeover bid priced at £2.80 ($3.56) per share, valuing the company at £1.2bn, from Bain Capital. Sir Peter is selling most of his 31 per cent stake, taking £310 million in cash, but in a deal exclusively arranged for him, will roll over £50 million of his investment into shares in the private holding company created to own Esure in future. The deal would create one of Europe’s biggest biotech companies, with annual sales in excess of €1bn and an operating profit margin above 10%.
Esure has recommended a takeover bid priced at £2.80 ($3.56) per share, valuing the company at £1.2bn, from Bain Capital. The deal would create one of Europe’s biggest biotech companies, with annual sales in excess of €1bn and an operating profit margin above 10%.