An analyst at funding agency Hargreaves Lansdown has described Aviva’s £3.6bn bid as a “golden ticket” for Direct Line Group shareholders.
This morning the companies collectively introduced that they’ve reached preliminary settlement on the monetary phrases of a possible acquisition of the latter by the previous.
Based mostly on Aviva’s final closing share worth earlier than the supply interval began, being 489.3 pence per Aviva share, the proposal represents whole consideration valued at 275 pence per Direct Line share, valuing the enterprise at £3.6bn.
As of 1:30pm at this time Aviva’s share worth was static at 489.40 pence in comparison with yesterday closing valuation.
DL
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