Woodford set to profit as bidders squabble over Omega


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...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Investment

All the latest from the world of ESG investing

ESG Blog: UN secretary urged governments to impose windfall tax on 'immoral' energy companies

Round-up of ESG coverage

Investment Week
clock 04 August 2022 • 1 min read
The extraordinary general meeting (EGM) will take place on Friday 5 August.

Trian 1 story continues as shareholders call for support ahead of extraordinary general meeting

'Not fit for purpose'

clock 26 July 2022 • 4 min read
Lorenzo Brunelli, ESG product strategist at PIMCO

Partner insight: Looking beyond the labels

Investors should look beyond ESG-labelled debt and at opportunities like unlabelled green bonds and climate leader bonds

clock 19 July 2022 • 1 min read