Hardy’s Bailie buys 30,000 shares
Hardy Underwriting Bermuda Ltd. director Paul Bailie has bought 30,000 shares of the re/insurer following rival Beazley's decision to withdraw its offer for Hardy last week.
Mr Bailie, who is managing director of the Bermuda operations of Hardy, bought 30,000 shares at 275p a share, a notification from the company stated yesterday. The total cost of the transaction was £82,500. Mr Bailie's total holding is now 41,479 shares.
Beazley's advances were twice rejected by Hardy after the Ireland-based company said it was willing to offer 350p a share. Hardy has also bought back 100,000 of its own shares, also at a price of 275p.