24th Apr 2015 16:57
LONDON (Alliance News) - Catlin Group Ltd Friday said the GBP2.79 billion takeover bid by XL Group PLC made in January has received all regulatory and anti-trust approvals.
In January, Catlin and XL Group said they had agreed the terms of a GBP2.79 billion deal that will see XL acquire its re-insurance peer, with Catlin shareholders set to receive 388 pence and 0.130 new XL shares, plus an expected 2014 final dividend of 22 pence in cash to be paid by Catlin.
It was also announced on Friday that from May 1, Catlin would be deleted from the FTSE 250 index and replaced with Finsbury Growth and Income Trust PLC.
Catlin shares closed flat at 708.50 pence per share on Friday.
By Joshua Warner; [email protected]; @JoshAlliance
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