May 31 (Bloomberg) -- Novae Group Plc, a Lloyd’s of London insurer, is assessing a possible merger with competitor Omega Insurance Holdings Ltd.
“It is currently undertaking due diligence in evaluating the merits of proposing a possible merger with Omega,” London-based Novae said in a statement today. “There is no certainty that an offer will be forthcoming.”
Novae has a market capitalization of about 240.2 million pounds ($397.1 million), while Omega Insurance is valued at about 180.5 million pounds.
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