Aviva has revealed it has develop into the second insurer to publicly bid for Direct Line Group this yr, with a suggestion value £3.3bn.
This night it stated that on 19 November 2024 it submitted a non-binding proposal to the board of DLG.
Primarily based on Aviva’s share worth on the day earlier than the proposal was submitted, being 487.6 pence per Aviva share, the proposal represented whole consideration valued at 250 pence per share, topping the earlier two Ageas bids value within the area of £3.1bn.
Aviva added this represented a premium of 59.7% to the closing DLG share worth on 18 November 2024 (the day earlier than the proposal was submitted); 57
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