Insurance software maker Ebix approaches Xchanging with takeover bid
Insurance software maker Ebix said it has made a takeover approach for Xchanging, valuing the outsourcing company at about £450 million.
US-based Ebix said it sent a letter to Xchanging outlining a potential cash offer for the company at 175 pence per share.
Xchanging, which confirmed the talks, has already agreed to a £412 million cash offer from Capita which was submitted last month.
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