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Direct Line Agrees to Aviva's Sweetened $4.6 Billion Takeover Offer


Published on 2024-12-06 09:01:24 - MSN
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  • Aviva improved the offer for its smaller rival by 10%, and both parties said they have reached a preliminary agreement on the terms of a potential deal.

Direct Line Insurance Group has agreed to a £4.6 billion ($5.8 billion) takeover offer from Aviva, marking a significant consolidation in the UK insurance market. This deal comes after Aviva sweetened its initial offer, which was previously rejected by Direct Line's board. The acquisition will enhance Aviva's position in the UK's personal and commercial insurance sectors, leveraging Direct Line's established brand and customer base. The agreement includes a mix of cash and shares, providing Direct Line shareholders with a 16% premium over the previous offer. This move is part of Aviva's strategy to expand its footprint and capabilities in the insurance industry, amidst a backdrop of increasing competition and regulatory changes.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/news/direct-line-agrees-to-aviva-s-sweetened-4-6-billion-takeover-offer/ar-AA1vnl1N ]

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