- Ageas SA/NV ( OTCPK:AGESF ) ( OTCPK:AGESY ) American depository receipts drove up 5.6% in afternoon trading after little-known investor group BE Group reportedly approached the company once again for a takeover.
- The consortium, backed by former investment bankers, has been trying to secure financing for a potential deal, people familiar with the matter told Bloomberg, and with AGESF's market cap of $8.8B, any deal would mark one of the biggest in the European financial services space, Bloomberg noted.
- Belgium's biggest insurer primarily offers property, casualty, and life insurance products throughout Europe and the high-growth Asia region.
- Of note, Chinese conglomerate Fosun International owns about 10% of Ageas ( OTCPK:AGESF ), making it the company's biggest shareholder, so any takeover of the insurer would likely need the support of Fosun, the report said.
- Seeking Alpha contributer Dividend Investing Mindset in September 2022 viewed Argeas stock as a Buy, drawing attention to its dividend yield .
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Ageas stock jumps in wake of fresh takeover attempt - report