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July 30 (Bloomberg) – Endurance Specialty Holdings Ltd. terminated its offer to buy Aspen Insurance Holdings Ltd. after the target company rebuffed the hostile bid.

“Aspen’s focus on defensive self-preservation tactics rather than value creation” made the offer impractical, Endurance Chairman John Charman said in a statement today. Endurance had offered about $3.2 billion in cash and stock, based on its share price on June 2, when the company made its second bid.

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