Hastings confirms takeover approach from consortium led by Sampo, RMI
Hastings confirmed on Wednesday that it has been approached by a consortium led by Finnish insurer Sampo and its biggest shareholder, Rand Merchant Investment Holdings, about a possible cash offer.
Cboe Europe All Companies
51.31
11:45 01/12/20
-0.46%
-0.23
Cboe Europe All Companies ex UK
19,854.31
11:45 01/12/20
-0.63%
-125.93
Cboe Europe Finance Sector
13,944.85
11:45 01/12/20
-0.61%
-86.15
Cboe Eurozone All Companies
18,019.09
11:45 01/12/20
-0.89%
-161.19
Cboe FI 25
13,683.49
09:35 27/11/24
-0.29%
-40.03
Cboe Nordic 40
22,675.23
11:45 01/12/20
-0.46%
-104.04
FTSE 250
20,642.10
09:25 27/11/24
n/a
n/a
FTSE 350
4,558.71
09:25 27/11/24
n/a
n/a
FTSE All-Share
4,514.21
09:25 27/11/24
n/a
n/a
Hastings Group Holdings
249.60p
12:13 16/11/20
0.00%
0.00p
Insurance (non-life)
3,519.59
09:25 27/11/24
0.62%
21.53
Sampo Oyj
€39.94
16:30 26/11/24
0.00%
€0.00
In a brief statement responding to press speculation, the company said it has established an independent committee to consider the deal and is in talks with the consortium.
"There can be no certainty that any firm offer will be made for the company, nor as to the terms on which any offer might be made," it said, adding that a further announcement will be made when appropriate.
At 1610 BST, the shares were up 15.1% at 195.70p.