Negotiation News

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Negotiation techniques at use between Novae and Omega?

The two companies could be close to signing an agreement to merge.

31 May 2011

A range of negotiation techniques may be used by Lloyd's of London insurer Novae as it is considering a merger with Omega.

If the deal is completed, it would see a new organisation created that had combined market capitalisation of some £420 million, Reuters reports.

"In accordance with the group's publicly stated strategy, Novae routinely reviews possible transactions and confirms that it is currently undertaking due diligence in evaluating the merits of proposing a ... merger," the company added.

According to Numis Securities analyst Nick Johnson, Novae would see a number of benefits should its merger and acquisition advisors clinch a deal.

He added the operating platform that Novae currently has would be complemented by Omega's Bermuda business.

Richard Pexton, chief executive of Omega, recently said during an interim management statement that he expects to see improvements in the majority of companies it underwrites in the remainder of 2011.