DLG rejects £3.3bn Aviva takeover offer
Aviva has revealed it has become the second insurer to publicly bid for Direct Line Group this year, with an offer worth £3.3bn.
This evening it said that on 19 November 2024 it submitted a non-binding proposal to the board of DLG.
Based on Aviva’s share price on the day before the proposal was submitted, being 487.6 pence per Aviva share, the proposal represented total consideration valued at 250 pence per share, topping the previous two Ageas bids worth in the region of £3.1bn.
Aviva added this represented a premium of 59.7% to the closing DLG share price on 18 November 2024 (the day before the proposal was submitted); 57
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