Hardy boss accuses Beazley of undervaluing firm with offer
Hardy chief executive Barbara Merry has blamed a tough insurance cycle for the insurer trading below book value but said that is no reason for its shareholders to jump to accept Beazley's offer.
Ms Merry's comments came after Hardy's board rejected an indicative 300p per share offer from Beazley. Hardy's board responded that it viewed the proposal as opportunistic given cyclical low
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