Deals
Sampo Explores Offer for $1.7 Billion U.K. Insurer Hastings
- Finnish insurer has approached Hastings on potential deal
- Sampo considers potential bid with Rand Merchant Investment
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Finnish insurance group Sampo Oyj is exploring an entry into the U.K. market with a potential bid for general insurer Hastings Group Holdings Plc.
Sampo and Hastings’s biggest shareholder, Rand Merchant Investment Holdings Ltd., have approached the London-listed insurer about a possible cash offer, according to a statement Wednesday confirming an earlier Bloomberg News report. Hastings is in talks with the consortium and has formed an independent board committee to consider any deal, it said in the statement.