Endurance abandons pursuit of Aspen Insurance

|About: Aspen Insurance Holdings... (AHL)|By:, SA News Editor

Bermuda governance laws combined with Aspen's intense defense, and the "unwillingness of Aspen (NYSE:AHL) shareholders to take a stand," make it "impractical" to pursue the offer, says Endurance Specialty (NYSE:ENH) CEO John Charman.

The value of the offer as of the close of trade last Friday was $49.60 per share vs. Aspen's close last night of $41.17.