Financier Andrew Regan eyes insurer RSA - paper

LONDON (Reuters) - Financier Andrew Regan is examining a potential takeover of Royal & Sun Alliance, the Sunday Times newspaper reported without citing sources.

Regan identified RSA as a target at the start of this year and flew to New York last month to arrange financing for a bid, the paper said.

Andrew Regan could not be contacted late on Saturday. Neither could anyone at his investment vehicle, Corvus Capital , which listed on London’s junior AIM share market five years ago.

No one could be reached at RSA.

RSA’s shares rose to a two-month high of 83-1/4 pence on Friday after Thursday’s news that the midcap insurer Britannic had agreed a merger with a privately owned group stirred up talk of further sector consolidation.

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