Aviva, a FTSE 100 member and the UK's largest insurance firm, yesterday said it would offer the equivalent of £2.75 in cash and stock for each Direct Line share. Aviva also said it would sweeten the deal for its own shareholders by increasing planned dividends, reflecting the fact that the company would be larger and generate higher profits.
Aviva and Direct Line had reached a preliminary agreement earlier this month and the former had until tomorrow to make a formal offer or walk away under UK takeover rules.
This story is from the December 24, 2024 edition of The Guardian.
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This story is from the December 24, 2024 edition of The Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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