Endurance Letter to Aspen Shareholders Asks for Support for Hostile Bid

The path forward is in your hands, so says Endurance Specialty Holdings in a letter to Aspen Insurance Holdings shareholders urging them to take measures to support Endurances hostile bid for Aspen.

By Phil Gusman | Updated on June 19, 2014

“The path forward is in your hands,” so says Endurance Specialty Holdings in a letter to Aspen Insurance Holdings shareholders urging them to take measures to support Endurance’s $3.2 billion hostile bid for Aspen.

The letter, unveiled today, asks Aspen shareholders to support Endurance’s two proposals unveiled June 2 in an SEC filing. The first proposal calls for a Special General Meeting during with shareholders would consider a proposal to expand Aspen’s board from 12 to 19 directors, resulting in a majority of the current directors to stand for election at Aspen’s 2015 annual general meeting.

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