Analysis: Aviva’s bid for DLG – what are the pros and cons for UK insurance brokers
The industry was abuzz last week with the ramifications of Aviva’s £3.3bn bid for Direct Line Group. Jonathan Swift reflects on the weekend’s developments, and what the deal might mean for UK brokers should the possibility of a green light gain momentum in the coming weeks.
With the news that Aviva has submitted a non-binding proposal to the board of Direct Line Group with regards a £3.3bn takeover, this past weekend has very much seen the battle lines drawn as both sides argued their case.
DLG has so far rebuffed the approach as “highly opportunistic” and “substantially” undervaluing the company.
Aviva now has until 25 December to make a firm offer.
DLG CEO Adam Winslow, who joined from Aviva this year, told The Sunday Times his new management team was “making
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