StockMarketWire.com - Private equity group Lovell Minnick Partners upped its takeover offer for insurance company Charley Taylor to fend off a competing bid.

Lovell Minnick increased its offer by 9.5% to 345p per share in cash, up from the previous offer of 315p.

The sweetened bid came after an interested party tabled a higher offer for the company.

Charles Taylor management said it considered the terms of the increased offer 'fair and reasonable,' and would unanimously recommend shareholders back the deal at a meeting slated for 22 November.

At 9:15am: [LON:CTR] Charles Taylor PLC share price was +34p at 352p



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