Dan Coatsworth, head of markets at AJ Bell, said: “Even though the UK stock market continues to see a steady stream of takeover approaches, getting those deals over the line isn’t always a given.
“Beazley has been courted by Zurich for some time, and while it finally looked as if they were ready to get hitched, there still isn’t an official bid.
“So far, they’ve only agreed in principle on the terms of a takeover deal.
“Zurich has now been given extra time to finish its due diligence and decide if it is ready to commit to a new partner or walk away.
“The deadline to decide has now been extended from February 16 to March 4.
“So-called ‘put up or shut up’ extensions are common, so the extra time isn’t necessarily a sign that Zurich is having second thoughts.
“It’s more likely the bidder is being thorough in its due diligence than anything else.”
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