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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.
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Aviva ofrece 3.300 millones de libras para Direct Line, pero la aseguradora rechaza la oferta "subvalorada".