Ebix enters Xchanging race with 175p per share bid

Insurance software specialist Ebix has made an indicative
£450mn offer for insurance outsourcer Xchanging, topping the
other two live bidders in line for the target company.
The 175p per share all-cash offer from Ebix is subject to due
diligence.
The insurance software and e-commerce firm's initial bid is
at a premium to the 160p per share recommended offer from UK
outsourcer Capita and a 170p per share indicative bid from Computer
Sciences Corporation (CSC).
Ebix CEO Robin Raina said a...