Aspen Insurance rejects Endurance's $3.2B buyout

Aspen Insurance Holdings Ltd. said Monday that its board has rejected a proposal from fellow insurance company Endurance Specialty Holdings Ltd. to buy it for about $3.2 billion.

Aspen said its board rejected the proposed deal because it is “not in the best interest” of the company or shareholders, and that Endurance “has a mixed operating track record, new leadership, an unproven strategy and no experience with large acquisitions.”