Consultants from Peel Hunt have labelled Aviva’s 250p per share method for Direct Line as a “affordable provide” including there may be “scope to sweeten the bid to 260-265p”.
The information of Aviva’s £3.3bn provide broke yesterday with DLG rebuffing the method as “extremely opportunistic” and “considerably” undervaluing the corporate.
Ageas made two bids for DLG earlier this yr setting the value within the area of £3.1bn, each of which had been turned down.
Whereas we can not rule out a bidding warfare for DLG we predict it unlikely however the next provide rising from Aviva stays a definite chance.
The newest money and shares proposal from Aviva represented a premium of round 60% for DLG
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