Insurance company Charles Taylor — manager of the Standard Club — will delist from the London Stock Exchange after accepting a £261m ($324m) takeover bid from a US private equity firm.
The agreed price represents a 34% premium on Charles Taylor’s share price at the time of the agreement at the end of last week.
Charles Taylor’s management regards the offer from Lovell Minnick Partners as “fair and reasonable” and is recommending it to shareholders, who will vote on the deal in November.
