Nigerian listed insurance firm Law Union & Rock Insurance Plc has received a binding offer from Verod Capital Management to acquire all the issued shares of the company.

Verod is a private equity firm focusing on investing equity in growth companies across various consumer-driven sectors in Nigeria.

The offer price represents a premium of 208% to the 60-day volume weighted average share price as on 26 February 2020.

Law Union’s board will recommend the...