Aviva offers £3.3 billion for Direct Line, but the insurer rejects the "undervalued" bid.

Aviva, a major UK insurer, has made a £3.3 billion bid to acquire Direct Line, offering 250p per share, a 60% premium over Direct Line's recent share price. However, Direct Line's board rejected the offer, deeming it "highly opportunistic" and undervalued. Aviva now has until Christmas Day to decide on a formal bid or to withdraw. This bid comes after Direct Line already rejected a lower offer from Ageas earlier this year.

November 27, 2024
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