Reuters logo
Insurance software maker Ebix approaches Xchanging with takeover bid
November 16, 2015 / 2:11 PM / 2 years ago

Insurance software maker Ebix approaches Xchanging with takeover bid

Nov 16 (Reuters) - Insurance software maker Ebix Inc said it made a takeover approach for Xchanging Plc , valuing the outsourcing company at about 450 million pounds ($684 million).

Ebix said it sent a letter to Xchanging outlining a potential cash offer for the company at 175 pence per share.

Xchanging, which confirmed the talks, has already agreed to a 412 million-pound cash offer from Capita Plc last month. ($1 = 0.6579 pounds) (Reporting By Mamidipudi Soumithri in Bengaluru; Editing by Savio D‘Souza)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below