Sompo
-
The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance. -
Ratings agency said the Sompo deal could have positive financial and operational benefits for the Bermudian.
-
Analysis of market conditions, reserves show that this might not lead to an overnight consolidation boom.
-
Group CEO Mikio Okumura cited “solutions that have not been fulfilled”.
-
Sources see Aspen as the right fit for Sompo, with Apollo getting a full cash exit.
-
The lawsuit has been filed as sales talks with Sompo yielded a deal.
-
The Japanese company announced the $3.5bn deal today, three months after the Bermudian completed its IPO.
-
The Japanese carrier has agreed to buy Aspen for a realization of $3.5bn.
-
The all-cash deal values the Bermudian’s stock at a 36% premium.
-
This publication first reported deal talks last week.
-
The insurer has chosen a “take two” deal after buying Endurance, betting again on Bermuda.
-
This publication revealed yesterday that the two were in detailed takeover talks.
