Apollo-Brit deal given 50:50 chance as PE house tipped not to raise bid
Private equity house Apollo is not expected to up its offer for Brit, meaning the chances of the deal being successful are 50:50, according to Jefferies International.
In a statement the equity analyst said: "Apollo's bid for Brit at £10.50 has been rejected by management as undervaluing the business, as it views their average ROE as 17% with tax benefits from the
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