SiriusPoint Acknowledges Indication Of Interest

April 14, 2023 | 0 Comments

SiriusPoint Ltd. has acknowledged an indication of interest from Third Point LLC to “explore a potential acquisition of all, or substantially all, of the outstanding Common Shares of the Company.”

A spokesperson said, “SiriusPoint Ltd. has acknowledged an indication of interest from Third Point LLC and certain of its affiliates, disclosed in a Schedule 13D/A filing earlier today, to explore a potential acquisition of all, or substantially all, of the outstanding Common Shares of the Company.

“Consistent with its fiduciary duties, in consultation with its financial and legal advisors, the SiriusPoint Board of Directors will carefully evaluate any proposal to acquire the Company, if and when a proposal is received.

“The Company always welcomes dialogue with its investors and shares the common goal of maximizing value for all the Company’s shareholders. The Company has made significant progress during the last seven months against its strategic priorities of reducing volatility, business simplification, and improving profitability. The Company has a healthy balance sheet and its capital position has been further strengthened by the recently announced Loss Portfolio Transfer transaction, which is subject to regulatory approval, while ratings agency Fitch recently upgraded SirusPoint’s Outlook to Stable from Negative.

“Shareholders are not required to take any action at this time.”

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