4 November 2015 Insurance

Apollo pulls out of Xchanging bid

Business services firm Xchanging has announced that venture capital fund Apollo has notified the firm that it is no longer interested in potentially making an offer for the company.

Process management firm Capita also announced an offer for Xchanging on 14 October, 2015, at 160 pence per share in cash that was, in the absence of a higher offer, recommended by the Xchanging board. The first closing date of Capita’s offer remains 16 November 2015.

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