Aviva has hit ‘strategic jackpot’ with £3.6bn DLG deal agreement, claims analyst
An analyst at investment firm Hargreaves Lansdown has described Aviva’s £3.6bn bid as a “golden ticket” for Direct Line Group shareholders.
This morning the firms jointly announced that they have reached preliminary agreement on the financial terms of a potential acquisition of the latter by the former.
Based on Aviva’s last closing share price before the offer period started, being 489.3 pence per Aviva share, the proposal represents total consideration valued at 275 pence per Direct Line share, valuing the business at £3.6bn.
Direct Line’s board had to admit that Aviva’s proposal is a golden ticket they’d struggle to match
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Iprism broadens capacity deal with Zurich
Managing general agent Iprism has signed a multi-year deal with Zurich bringing in capacity for its property owners and commercial combined products.
Aviva pledges more than £4m to Citizens Advice
Aviva has renewed its multi-year partnership with Citizens Advice, pledging more than £4m to the charity, following its two-year investment in 2022.
Das UK brand exits market in Arag integration
Legal expenses insurance provider Arag has completed the integration of the Das UK brand a year on from the deal going through.
FCA insurance related fines total £1.1m in 2024
The Financial Conduct Authority handed out £1.11m in fines to two general insurance broking individuals in 2024, as firms achieved the second year in a row of zero fines.
Direct Line accepts Aviva’s £3.7bn takeover offer
Direct Line has accepted Aviva’s improved offer to takeover the company this morning in a deal one analyst has described as a "bold move that could turn out to be a gift that keeps on giving".
Aviva-target DLG launches on Compare the Market
Aviva takeover target Direct Line Group has launched three new branded motor insurance products on Compare the Market, marking its entry on to price comparison websites.
People Moves: 16 – 20 December 2024
Keep up to date with the latest insurance industry personnel moves.
Ex-Das UK boss Coram departs for UK insurer CEO role
The ex-boss of Das UK, Tony Coram, has returned to former parent company Munich Re as CEO of its primary insurance business, Great Lakes (UK).