Broker worries bubbling up on Ageas-Direct Line but one hope trumps all
Brokers have raised concerns about the impact on the sector if Ageas snaps up Direct Line but expressed confidence in the potential buyer’s management should a deal come to pass.
Belgium-headquartered Ageas upped its bid this month having first approached Direct Line about a £3.1bn takeover in January. DLG has dismissed both offers.
While there is currently no certainty of a move going ahead, Ageas has until 27 March to make up its mind, the approaches have triggered the fear Ageas’ management may be distracted in the meantime.
Stuart Reid, chair of Partners&, suggested Ageas can afford the deal and the prospect has to be taken seriously.
However, he stressed he is the
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