Woodford set to profit as bidders squabble over Omega

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Invesco Perpetual's Neil Woodford is set to profit as his holding Omega Insurance received two takeover bids in as many days.

Yesterday former hedge fund manager Mark Byrne made an 83p share offer to take control of 25% of the company, at a valuation around the £50m mark. However, this morning it emerged Canopius Group has also stepped in with a bid. The private British insurer has offered 83p a share for the entire share capital of the company. In a statement to shareholders, Omega confirmed a second bidder had entered the race. "Omega Insurance Holdings has confirmed a takeover approach has been received and has noted the announcement from Canopius Group. "The board will continue to review the app...

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