24th Aug 2015 08:52
LONDON (Alliance News) - Zurich Insurance has asked RSA Insurance Group for more time to make an offer for the company, the FT reported on Sunday.
According to the report, the two insurers made progress on the potential GBP5 billion plus deal over the weekend.
Citing people familiar with the matter, the FT said that RSA is likely to agree to ask the UK Takeover Panel to extend the Tuesday close-of-business deadline.
There is no certainty RSA will request an extension, the FT said.
RSA shares were down 0.9% at 486.80 pence on Monday morning in London.
http://www.ft.com/cms/s/0/7ceac258-49d9-11e5-b558-8a9722977189.html#axzz3jiiZVjXa
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
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