Brit Insurance has rejected a takeover bid of £10-a-share from US private equity firm, Apollo. Following the news, shares in Brit soared 20% after the company said the offer “significantly undervalues” the group. Brit, which became the England cricket team sponsor in January, saw its shares rise above the 900p mark on Friday, before falling [...]

More: Brit Insurance reject takeover approach

if £10-a-share is too low then it just shows that the insruance company is doing very well and hope it doesnt get bought