Omega Investors Say Byrne Should Pay Set Price, Times Reports

Omega Insurance Holdings Ltd. (OIH)’s shareholders are asking Mark Byrne to pay a fixed price of 83 pence per share for a 25 percent stake in the company, the Sunday Times reported.

Omega founder John Robinson, Omega’s fourth-largest investor, have said the insurer is making an “appalling” decision to sell the stake to Byrne, chairman of Haverford (Bermuda) Ltd., at prices that may be less than 83 pence, the newspaper said, citing Robinson. Shareholders also have questioned whether Omega put the interests of Invesco Perpetual, the firm’s largest investor, first, the Sunday Times said, citing Ruth Keattch, a fund manager at Artemis Investment Management, the third-largest shareholder.

To contact the reporter on this story: Sarah Jones in London at sjones35@bloomberg.net

To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net

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