Ageas weighs up £3.1bn Direct Line bid

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Ageas has confirmed a possible offer for Direct Line Insurance Group valuing the business at £3.1bn.

The Belgium-headquartered insurer stated it was “in the preliminary stages of considering a possible offer”.

The cash-plus-shares deal would give DLG shareholders £1 per share and around one Ageas share for every 25 DLG shares.

It would value DLG at 233 pence per share, nearly 43% up on yesterday’s closing price.

At the time of writing, DLG shares have risen to 204 pence per share due to the news.

Combination

According to Ageas, the combination of its UK business with DLG would create a strong

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