Santam market cap surges R11 billion overnight on Sanlam buyout offer

Sanlam has announced its firm intention to acquire all outstanding ordinary shares of Santam , a move that will bring South Africa’s largest short-term insurer under full private ownership and end its 62-year run on the Johannesburg Stock Exchange (JSE). The proposed buyout offer of R505 per share represents a 26% premium over Santam’s previous close, triggering a massive market rally that added nearly R11 billion to the insurer’s valuation overnight. Market Reaction and Financial Impact The buy