Belgian insurer Ageas abandons £3.2bn bid for UK insurer Direct Line after two rejected takeover proposals.

Belgian insurer Ageas has abandoned its bid to acquire UK insurer Direct Line after two previous takeover proposals were rejected. Ageas had valued Direct Line at around £3.2bn ($4.1bn), but the UK company's board deemed the offers "unattractive." Direct Line's new CEO, Adam Winslow, has expressed confidence in the company's standalone future, and this outcome is seen as a win for the UK's stock market.

March 22, 2024
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