Barbican Makes Competing Offer For Omega

Law360, New York (September 22, 2011, 7:27 PM EDT) -- London-based Barbican Insurance Group on Thursday jumped into a mix of competing offers for Omega Insurance Holdings Ltd. as that insurer works to rebound from catastrophe-related losses, proposing that Omega acquire it in an all-share transaction.

Besides its acquisition by Omega with no acquisition premium for Barbican shareholders, Barbican, which generates the bulk of its business as a Lloyd's of London syndicate, proposed a partial cash alternative for existing Omega shareholders.

The stock buy-back tender offer would cover up to 60 million shares at 84 pence...
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