Brit Insurance offer deadline extended fourth time

Achilles, the private equity consortium set up to buy Brit Insurance, has extended the deadline for shareholders to accept its offer to 1pm on 29th January.

So far, 71% of Brit Insurance shareholders have accepted the Achilles takeover offer of up to £11 per Brit share, agreed in October.

The one week extension is the fourth given to shareholders.

Last week, Achilles extended the final date by which its offer for the Lloyd’s insurer must become unconditional, also known as Day 60, to 1pm on 18 March. Day 60 was originally set for 22 January.