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BRIEF-Catlin confirms offer approach from XL Group
December 17, 2014 / 1:31 PM / 3 years ago

BRIEF-Catlin confirms offer approach from XL Group

Dec 17 (Reuters) - Catlin Group Limited

* Possible offer

* Notes recent press speculation regarding company and movement in company’s share price

* Confirms that it has received an approach from XL Group (“XL”) on a possible combination of XL and Catlin

* Under indicative terms of possible offer, XL would acquire 100 pct of Catlin for consideration of 410 pence in cash and 0.130 shares of XL for each Catlin common share

* Confirms that it is in advanced negotiations regarding sale of its interest in Box Innovation Group Limited

* Under terms of possible offer, Catlin shareholders would not receive a final dividend for year ended Dec. 31 2014

* In event a sale is agreed on terms which generate surplus capital, any distribution of that surplus to Catlin shareholders would be in addition to indicative terms of possible offer

* Possible offer values each Catlin share at 699 pence Source text for Eikon: Further company coverage:

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