South African financial group Sanlam offered on 5 October to buy the 37.3% of short-term insurer Santam that it does not already own and to delist the company. The cash offer of 505 rand a share is a 26.6% premium to Santam’s closing price on 2 October and values the minority stake at about 16 billion rand, according to BusinessDay. Santam’s independent board backs the deal, which would end its 62-year listing on the Johannesburg Stock Exchange (JSE). Minority shareholders get an exit above Santam’s previous record share price, while the JSE loses one of its larger financial stocks. Shareholders are due to vote on 30 November.
Sources
- BusinessDay: https://www.businessday.co.za/companies/2026-10-05-sanlam-to-take-full-ownership-of-santam-in-show-of-strength/
- News24: https://www.news24.com/business/companies/sanlam-makes-cash-bid-to-buy-out-santam-shareholders-and-delist-it-20261005-0817
- EWN: https://www.ewn.co.za/sanlam-bids-r505-a-share-to-take-full-control-of-santam