Ageas ends DLG takeover plans after two rejections
After being rebuffed twice, Ageas has ended its pursuit of Direct Line Group, having valued the business at over £3.1bn.
Ageas first approached DLG in January and upped its bid earlier this month. DLG rejected them both, labelling the second offer as uncertain, unattractive and highly opportunistic.
On 22 March Ageas confirmed that after the two attempts it will not be following up with a third proposal.
Under London Stock Exchange rules, the insurer is now unable to make a move for DLG for six months unless another bidder emerges or DLG waives the restriction.
ConcernsThe news is likely to be well received by
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