Beazley Rejects Zurich Insurance’s £7.7 Billion Takeover Bid

Group 1 - Beazley Plc has rejected Zurich Insurance Group AG's £7.7 billion ($10.3 billion) takeover approach, stating that it materially undervalues the company and its long-term prospects [1] - The latest cash proposal from Zurich was 1,280 pence per share, which is lower than Zurich's previous offer of 1,315 pence per share made in late June, valuing Beazley at £8.4 billion [2] - Beazley's board expressed confidence in the company's standalone prospects as a publicly listed entity [2] Group 2 - Zurich's offer of 1,280 pence per share represents a 56% premium over Beazley's closing price on January 16 [2] - Beazley's shares have increased nearly 30% since the announcement of Zurich's January 19 offer, although they are still trading below the offer price [3] - As of 8:43 a.m. in London, Beazley shares were trading at 1,105 pence, reflecting a 1.6% decrease [3]