Recommended cash offer for Beazley Plc

The boards of Zurich Insurance Group Ltd. and Beazley Plc announced that they agreed the terms of a recommended all cash offer by Zurich for the shares of Beazley. Under the terms of the transaction, Beazley shareholders will be entitled to receive a total value of 1,335 pence per Beazley share, comprising 1,310 pence in cash and a dividend of 25 pence per Beazley share. Beazley shareholders will be entitled to receive, in the aggregate, approx. £ 8.2bn on a fully-diluted basis.

Alongside lead counsel Freshfields, Lenz & Staehelin is advising Beazley on Swiss law matters. The team comprises Tino Gaberthüel, Simone Ehrsam (both Corporate and M&A), Patrick Schärli (Regulatory) and Marcel Meinhardt (Antitrust).