Aspen Tells Shareholders to Reject Endurance's Offer

June 17 (Bloomberg) -- Aspen Insurance Holdings Ltd., the insurer that rejected a $3.2 billion hostile bid from Endurance Specialty Holdings Ltd., 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.

To contact the reporter on this story: Dan Kraut in New York at dkraut2@bloomberg.net

To contact the editors responsible for this story: Dan Kraut at dkraut2@bloomberg.net Steve Dickson