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Esure denies getting takeover talk

Esure denies getting takeover talk | Insurance Business UK

Esure denies getting takeover talk
Insurance provider Esure has dismissed reports that it has been approached by interested buyout groups that include foreign companies.
The insurer, which owns the price comparison site Go Compare, is still considering strategic options but “no approach has been received by the company” about a possible takeover, The Telegraph reported.
“Esure continues to focus on its strategic review of Gocompare.com… and will announce the results of the strategic review in due course,” the report quoted the insurer as saying.
Sky News earlier reported that private equity firms and overseas insurance groups were circling Esure as its founder Peter Wood appeared to be willing to sell his shares.
According to the report, the prominent entrepreneur was keen on considering offers for the whole insurance company.
The supposed buyout groups included New York-based investment giant KKR, which recently explored takeover bids for Esure.
At least one foreign insurance firm also hired financial advisers to work on a takeover bid, the Sky News report further claimed.
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