UK insurers Aviva and Direct Line agree on sweetened takeover bid

Dec 6, 2024  · Direct Line has agreed a takeover offer from Aviva that will pave the way for the combined group to own a fifth of the UK motor insurance market. The bid, which values Direct …


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Aviva Set To Buy Direct Line After Sweetened Bid - RTÉ

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Dec 6, 2024  · British insurer Aviva has agreed to buy smaller rival Direct Line in a sweetened £3.61 billion cash-and-stock deal that will create the UK's largest home and motor insurer.

rte.ie

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Aviva Agrees £3.75 Billion Takeover Of Direct Line

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Dec 23, 2024  · An enlarged Aviva will become the second biggest car insurer behind Admiral. Aviva has agreed a £3.75 billion takeover of insurance rival Direct Line following intensive …

dailybusinessgroup.co.uk

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Direct Line Agrees £3.7bn Aviva Takeover Ahead Of Christmas …

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Dec 23, 2024  · Aviva has finally struck a deal to acquire fellow insurer Direct Line for £3.7billion, ahead of a Christmas Day deadline. Britain's largest life insurer made a £3.3billion approach in …

thisismoney.co.uk

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Aviva Reaches Initial £3.6 Billion Deal To Buy Direct Line

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Dec 6, 2024  · UK Insurer Aviva Said to Boost Direct Line Takeover Bid to £3.4 Billion The revised bid is a “good deal all round,” Panmure Liberum analysts wrote in a note to clients.

insurancejournal.com

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Aviva Said To Boost Direct Line Takeover Bid To £3.4 Billion

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Dec 5, 2024  · (Bloomberg) -- Aviva Plc has increased its offer for Direct Line Insurance Group Plc to about £3.4 billion ($4.4 billion), days after its initial proposal to buy the UK motor insurer was …

bnnbloomberg.ca

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Aviva Agrees To Buy Direct Line For £3.7bn - Sky News

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Dec 23, 2024  · Aviva has agreed a deal to buy rival company Direct Line for £3.7bn ahead of a Christmas Day deadline. The insurance firm announced the agreement with its smaller …

sky.com

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Aviva Agrees £3.7bn Deal To Acquire Direct Line, Forming A UK …

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Dec 24, 2024  · Under the terms of the deal, Direct Line shareholders will receive a mix of cash and shares: 0.2867 new Aviva shares, 129.7p in cash, and up to 5p in dividends. Aviva will …

bmmagazine.co.uk

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Aviva Set To Buy Direct Line In Sweetened £3.6bn Deal

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Dec 6, 2024  · The bid comprises 129.7p in cash, 0.2867 new Aviva shares and dividend payments of ‘up to’ 5p per Direct Line share in aggregate, reflecting a mammoth 73.3 per cent …

thisismoney.co.uk

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Aviva And Direct Line Reach Agreement On Possible £3.6bn Deal

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The insurer is ‘minded’ to accept Aviva’s sweetened 275p-a-share offer

thetimes.com

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Aviva's Direct Line Takeover Triggers Warning Over 2,300 Jobs At Risk

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Dec 24, 2024  · Insurance giant Aviva has agreed a takeover of Direct Line in a £3.7bn deal that puts around 2,300 jobs at risk. The offer was thrashed out over the weekend to beat a …

thisismoney.co.uk

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UK Insurer Aviva Said To Boost Direct Line Takeover Bid To £3.4 …

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Dec 5, 2024  · London-listed Aviva has made a fresh bid of about 261 pence per share as it seeks to convince Direct Line’s board to engage, the people said, asking not to be identified because …

insurancejournal.com

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Aviva Launches £3.4bn Takeover Bid For Direct Line To Create Car ...

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Nov 27, 2024  · Aviva has launched a £3.4bn takeover bid for rival Direct Line in a tie-up that would create one of Britain’s largest car insurers.

yahoo.com

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Aviva Looks Set To Buy Direct Line In £3.6bn Deal - Yourmoney.com

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Dec 6, 2024  · Direct Line previously rejected a 250p per share bid, saying the offer was “highly opportunistic and substantially undervalued the company”, and then also turned down a 261p …

yourmoney.com

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Live News: 2,000 Jobs To Go In Aviva Takeover Of Direct Line

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Dec 23, 2024  · About 2,000 jobs are likely to be lost through the takeover of Direct Line by Aviva, its larger rival, according to a joint statement by the UK insurers on Monday. ... £3.6bn cash …

ft.com

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Aviva Agrees £3.7bn Takeover Of Direct Line - What It Means For …

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Dec 23, 2024  · Insurance giant Aviva has confirmed a £3.7bn takeover of competitor Direct Line, after an initial £3.3bn bid was rejected in November. The FTSE 100 company managed to …

mirror.co.uk

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Aviva And Direct Line Agree £3.7bn Insurance Tie-up - MSN

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The takeover will see Aviva pay 129.7 pence in cash and 0.2867 of its own shares for each Direct Line share. It will also pay up to 5p in dividend payments per share to Direct Line shareholders …

msn.com

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Takeover Battle Erupts As Aviva Makes £3.3bn Bid For Direct Line:

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Nov 27, 2024  · Aviva has launched an audacious £3.3billion bid to buy troubled rival Direct Line. The FTSE 100 insurance giant, led by Amanda Blanc, revealed last night that it tabled an offer …

thisismoney.co.uk

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Market Watch: Aviva Launches £3.3bn Takeover Bid For Direct Line

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Nov 28, 2024  · Aviva has launched a £3.3billion takeover bid for its rival Direct Line, in an attempt to create one of Britain's largest car insurance companies. The cash-and-shares proposal …

agcc.co.uk

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Direct Line Accepts £3.6bn Takeover Offer From Aviva, Creating ...

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Dec 6, 2024  · DIRECT LINE has accepted a £3.6billion takeover offer from rival Aviva in a move that will create a home and car insurance giant. Aviva sweetened its bid to 275p-a-share …

thesun.co.uk

FAQs about UK insurers Aviva and Direct Line agree on sweetened takeover bid Coupon?

Will Aviva buy direct line?

British insurer Aviva has agreed to buy smaller rival Direct Line in a sweetened £3.61 billion cash-and-stock deal that will create the UK's largest home and motor insurer. ...

What happened between Aviva & direct line?

Ahead of a Christmas Day deadline, the two insurance firms agreed to a merger after Aviva failed with a lower bid in November. Aviva has agreed a deal to buy rival company Direct Line for £3.7bn ahead of a Christmas Day deadline. ...

Is Aviva taking over direct line Insurance Group plc?

(Alliance News) - Aviva PLC on Monday sad it has agreed a GBP3.7 billion takeover of car and home insurer Direct Line Insurance Group PLC. The cash and shares offer values each Direct Line share at 275 pence. They were trading 3.0% higher at 250.40p each in London on Monday morning. ...

Will Aviva raise its target price for direct line?

Aviva rose 1.2%. Earlier this week, Berenberg increased its target price for Direct Line to 270 pence per share and said management sees a clear path to executing their strategic plan. Berenberg analysts wrote that Aviva has “ample capacity” to raise its bid, and said their base-case scenario is for an increased offer of 275 pence. ...

How much will Aviva pay in a direct line takeover?

The takeover will see Aviva pay 129.7 pence in cash and 0.2867 of its own shares for each Direct Line share. It will also pay up to 5p in dividend payments per share as part of the deal. Aviva shareholders will own approximately 87.5% of the new company while Direct Line shareholders will own about 12.5%. ...

Will Aviva raise its bid to 275 pence?

Berenberg analysts wrote that Aviva has “ample capacity” to raise its bid, and said their base-case scenario is for an increased offer of 275 pence. JPMorgan Chase & Co. analysts have also written that Aviva might need to increase its bid to more than 275 pence in order to win approval from Direct Line’s board. ...

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