Chaucer to raise capital despite takeover bids
Chaucer Holdings PLC will press ahead with plans to raise £75 million through issuing shares despite receiving takeover offers.
The company confirmed that since it announced plans to raise funds it has received a number of approaches which may lead to acquisition offers.
However, the approaches are still at an early stage and subject to a number of conditions.
As such, “it may take some time to ascertain whether an offer for the company may be forthcoming,” Chaucer said in a statement.
Furthermore, “of the approaches received, only one of the interested parties has requested that the board should not proceed with the firm placing and placing an open offer, and no other such requests have been received from any other interested parties.”
Because of this, Chaucer said it is in the firm’s ‘best interest’ to pursue the capital raising strategy.
Discussions regarding a takeover will continue to be held with interested parties.
Category: Chaucer News, Companies News, Insurance News
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