Thomas Miller shareholders back UK Club and TT Club takeover
Acceptances have passed 89% as the two clubs move toward a wider merger
UK P&I Club and TT Club have secured strong shareholder backing for their proposed acquisition of Thomas Miller Holdings, with acceptances now standing above 89%. The offer was made in mid-June by a special-purpose vehicle jointly established by the two clubs to carry out the transaction, and completion is expected in the fourth quarter of the year, subject to regulatory approvals that remain in progress.
Thomas Miller, the long-established marine and transport insurance services group, will continue to operate as usual while the approval process runs its course. Two representatives of the acquiring vehicle will join the Thomas Miller Holdings board to support the transition.
The transaction is closely tied to wider merger plans between the two clubs, which have signed a framework agreement committing them to combine. That merger is expected to complete in early 2027, subject to the required approvals.
The chairman of one of the clubs said the level of support was a strong endorsement of the strategic rationale for the deal, adding that full ownership of Thomas Miller would give both clubs a stronger platform to build on shared strengths while maintaining service standards for members.
