Aspen Insurance Holdings Ltd. (AHL), the insurer that rejected a $3.2 billion hostile bid from Endurance Specialty Holdings Ltd. (ENH), urged shareholders not to tender their stock in a $49.50-a-share offer by the suitor.
“Aspen can achieve more value for its shareholders -– and without the significant risks that are inherent in a merger with Endurance -– by continuing to execute its strategic business plan,” Aspen Chairman Glyn Jones said in a statement today. Bermuda-based Aspen closed at $46.80 in New York trading yesterday.
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