The public takeover offer for British insurer Beazley by Zurich Insurance Group, valued at 8.2 billion pounds (approximately 9.7 billion euros), has received the necessary regulatory approvals. The all-cash transaction is scheduled for definitive completion on October 1, according to the Swiss insurer.
After meeting regulatory requirements, the transaction now enters its final phase of legal validation. The court hearing is scheduled for September 22, where approval of the operation is expected. The last day of trading and registration of transfers of Beazley shares on the London Stock Exchange will be September 30.
On October 1, the effective date of the deal, stock market transactions will be suspended, completing the integration into Zurich. The definitive cancellation of the listing admission will occur on October 2, with Zurich having until October 15 to settle the consideration payment to shareholders.
In parallel, Beazley and Zurich signed a data transfer agreement on September 11, aimed at ensuring compliance with data protection legislation and accelerating operational planning for post-completion integration. Beazley accepted Zurich's offer in February of this year, after previously rejecting successive proposals.
