Private equity firm Terra Firma has announced that it has no intention of making an offer for Lloyd's insurer Chaucer.
Terra Firma, founded by Guy Hands, announced on 8 February that it was considering making an offer for Chaucer following press speculation.
However, on 20 April, US insurance group Hanover made a £313m offer for Chaucer, which Chaucer's board has recommended to shareholders.
The deal with Hanover is expected to complete in early July.
No comments yet