September 4, 2018 / 6:42 AM / 17 days ago

French re-insurer Scor rejects friendly takeover offer by Covea

PARIS, Sept 4 (Reuters) - Privately-held insurance company Covea announced on Tuesday that reinsurer Scor had rejected an acquisition offer but said it still remained interested in a friendly tie-up.

Covea, which already owns an 8.22 percent stake in Scor, said in a statement that it had offered to pay 43 euros ($49.85) per Scor share on Aug. 24. The offer, which was turned down by Scor’s board, represented a 21 percent premium over its Aug. 31 closing price.

Officials at Scor were not immediately available for comment. ($1 = 0.8626 euros) (Reporting by Inti Landauro and Gilles Guillaume; editing by Richard Lough)

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