Zurich Insurance, Beazley Agree on Deadline Extension to Takeover Bid
By Elena Vardon
Zurich Insurance and Beazley agreed to push back the deadline for the Swiss insurer to submit a firm offer for its U.K. peer or walk away until it reports its annual results.
Earlier this month, the companies agreed on an improved takeover bid valuing the U.K. specialist insurer at around 8.0 billion pounds ($10.92 billion) after several rejected offers. The deadline had been set to Feb. 16 at 5 p.m. London time.
Zurich now has until March 4 at 5 p.m. London time to announce its firm intention to pursue a takeover or back out, the companies said Monday. The deadline can be extended further and there is no certainty that any firm offer will be made.
Beazley, whose board requested the extension, is set to report its full-year results on March 4, while Zurich will publish its results on Thursday.
The due diligence process is progressing as planned and the companies are discussing the terms of the deal and preparing the documentation, they said.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
February 16, 2026 02:41 ET (07:41 GMT)
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