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Report: Apollo, Blackstone likely bidders for Aspen Insurance

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Report: Apollo, Blackstone likely bidders for Aspen Insurance

Apollo Global Management LLC and Blackstone Group LP are among the companies most likely to acquire Aspen Insurance Holdings Ltd., The Insurance Insider reported, citing sources.

Argo Group International Holdings Ltd. reportedly mulled a takeover, and some banking sources suggested to Insurance Insider that Sirius International Insurance Group Ltd. made a reverse merger proposal as well.

Aspen has set a June 29 deadline for final bids, according to the report. The deadline for first-round bids was April 27. Final-round bidders submitted proposals that contemplated valuations on Aspen as low as $43 to $44 per share.

According to the report, Aspen's directors are mulling overhauling management as an alternative to selling, but are still committed to finishing the sale process run by Goldman Sachs and J.P. Morgan.

Aspen, Argo, Apollo and Blackstone all declined to comment to Insurance Insider.