US firm Apollo enters Brit Insurance bid battle without UK PR support

American private equity firm Apollo is embroiled in an M&SA battle to buy Brit Insurance, but continues to run comms from the US.

Apollo takeover bid: Brit Insurance
Apollo takeover bid: Brit Insurance
The firm is using its retained US financial PR advisers Rubenstein Associates to run comms on the potential deal.

Brit Insurance is using retained financial PR firm Haggie Financial. Patern Peter Rigby is leading the account.

Last week Brit Insurance rejected a takeover proposal from Apollo worth £824m, but said it would be willing to do a deal at the right price.

Weekend reports said Apollo had told Brit it would not make any further offers without preliminary access to the company’s books.

FD in London advises Apollo in relation to the firm's Euronext-listed private equity fund, AP Alternative Assets (AAA). However, FD is not thought to be involved in the Brit Insurance bid.

Brit operates in the Lloyd's of London LOL.UL insurance market and acts as an insurer to small and medium-sized businesses.

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