There’s the perfect M&A target for ASX-listed QBE Insurance hiding in plain sight.
Sources told Street Talk the £4.4 billion ($8.5 billion) specialist insurer Beazley Plc has been the subject of intense pitching by investment bankers close to the $27 billion insurer. While sources said the bankers had failed to make purchase with QBE boss Andrew Horton and his board, it is understood their idea led to a bunch of high-level conversations around the merits of such a transaction.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
