Sanlam plans full takeover of R44 billion insurance giant

Sanlam is set to acquire all remaining ordinary Santam shares for R505 million, a 26.6% premium to Santam's last closing price. This deal, which would more than double Sanlam's stake in the company, would also end Santam's 62-year history on the Johannesburg Stock Exchange, but would offer shareholders a premium on their stakes and certainty through a cash transaction. The acquisition would cement Sanlam's control over the insurance giant, solidifying its position as a major player in South Africa's financial sector.