Further Global controlled company to buy GBGI for $131.8m

Further Global Capital Management LP, is set to buy GBGI, end-to-end insurance company trading principally as The Global Benefits Group. The offer values entire company at $131.8m. The offer at $1.5 per share implies 38.2% premium to the closing price per GBGI Share of 84.5 pence. "Returning to private ownership will provide GBGI with enhanced financial and operational flexibility, together with savings relating to the costs which come from being a public company." William (Bill) Ward, GBGI Chairman.