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Insurer esure's shares seen rising on deal speculation

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Insurer esure's shares seen rising on deal speculation

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(Reuters) – Shares in esure Group <ESUR.L> were seen up 5 percent on Monday by brokers after the Sunday Times reported the British insurer’s biggest shareholder Peter Wood was looking to sell his 30.8 percent stake. Wood held informal talks with potential buyers over a deal to sell his stake, which would trigger a bid for the whole business, the newspaper reported citing senior city sources. (http://bit.ly/2w2trpW) Bosses of other insurance companies claim to have been approached by Wood in recent months, the Sunday Times said. A merger with a U.S. insurer is considered the most likely route, the newspaper added. Esure did not immediately respond to Reuters for an email request for comment.

(Reporting By Anjuli Davies)
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