XL Catlin given regulatory go-ahead

Bermuda-based Catlin has been given the green-light by regulators and obtained anti-trust approvals in connection with XL’s acquisition offer.

Catlin will be delisted from the stock exchange on May 1, 2015, with the new XL shares released on the same day, culminating the merger of XL Group and Catlin.

Subject to “the satisfaction of certain other conditions”, including the Supreme Court of Bermuda making an order sanctioning the Scheme, a copy of the court's order will be delivered to the Registrar of Companies in Bermuda on May 1.

The settlement of the cash consideration is expected to take place by May 15, 2015.