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flag Zurich to buy UK insurer Beazley for £8B, up from £7.7B offer.

flag Zurich Insurance Group has agreed in principle to acquire UK-based specialty insurer Beazley in a deal valued at approximately £8 billion, offering 1,310 pence per share in cash, plus up to 25 pence in dividends, bringing the total to 1,335 pence per share. flag The offer, which represents a nearly 60% premium to Beazley’s pre-offer share price, follows the company’s rejection of a previous £7.7 billion bid. flag Beazley’s board has tentatively approved the revised terms and would recommend the deal to shareholders. flag The merger, pending due diligence and a formal offer by February 16, would create a global specialty insurance platform with around $15 billion in gross written premiums and strengthen Zurich’s presence at Lloyd’s of London. flag Beazley’s shares rose over 50% in the past month amid takeover speculation.

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