Aspen takes note of new Endurance offer; still not thrilled


"Aspen (AHL +0.4%) shareholders are advised to take no action at this time," says company after Endurance Specialty Holdings (ENH -0.2%) launches an unsolicited exchange offer for Aspen for $49.50 (in cash, stock, or combination).

Aspen notes the "highly unappealing" aspect that some of the consideration consists of Endurance stock. The Board - having rejected the same price combination in early June - will nevertheless review the exchange offer.

Previously: Endurance commences exchange offer for Aspen at $49.50

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