Cox reaches agreement which may lead to potential sale
Lloyd’s motor insurance specialist Cox today announced that it has reached provisional agreement with Duke Street Capital V Limited, Englefield Capital LLP and former CEO Neil Utley to buy the company. The deal would value each Cox share at 94p, with shareholders receiving 92p per share in cash by way of the offer and a 2p per share cash dividend.
In a statement Cox added: “The announcement of an offer by the consortium for Cox is conditional on the necessary financing agreements of the consortium being entered into, the finalisation ofOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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