Catlin up more than 10% following potential XL bid

Investors in Lloyd's carrier Catlin have reacted positively
after the company confirmed earlier today (17 December) that it had
been approached by XL Group in a potential £2.5bn takeover
bid.
Shares in Catlin were up more than 10 percent at 642p as of
16:25 GMT.
Meanwhile, sentiment for US-listed (re)insurer XL waned in early
trading, with the firm's share price down nearly 5 percent to
$33.40.
The potential cash-and-share deal would value Catlin at more
than £2.5bn - or 1.57x.