The Swiss insurer’s £5bn bid for RSA was announced in July. Now there are just two days left to find a deal – and RSA’s Stephen Hester isn’t minded to sell cheap
Tuesday is the big day for RSA and Zurich. A leak in July forced the Swiss insurer to announce it was considering a £5bn-plus bid for RSA, led by Stephen Hester, the former boss of Royal Bank of Scotland; under takeover rules, Zurich was given until 5pm on Tuesday to make an offer or walk away.
Hester has shown little enthusiasm for selling RSA, despite a potential payday of more than £3m for him if there is a takeover. Advisers for the two companies have been trying to hammer out terms, but there is said to be a big gap on price.
Source: The Guardian Circular Economy RSS