Aspen Insurance Expresses Concerns, Rejects Endurance Bid - Quick Facts

(RTTNews) - Aspen Insurance Holdings Ltd. (AHL) said Sunday that it has issued a letter to its shareholders, expressing serious concerns regarding a previously disclosed unsolicited bid from Endurance Specialty Holdings Ltd. (ENH) to acquire the company for $3.2 billion, or $47.50 per share.

Glyn Jones, Chairman of the Board of Directors of Aspen Insurance, said, "Since Endurance publicized its letter to Aspen on 14th April, we have actively reached out to shareholders and have found overwhelming consensus for our rejection of Endurance's ill-conceived 'proposal,' which undervalues Aspen, represents a strategic mismatch and carries significant execution risk."

Aspen Insurance said it informed Endurance of its serious concerns regarding its "proposal," but Endurance has failed to respond substantively to any of them.

Goldman, Sachs & Co. is acting as financial advisor and Wachtell, Lipton, Rosen & Katz and Willkie Farr & Gallagher LLP are acting as legal advisors to Aspen.