Ageas ends DLG takeover plans after two rejections

Stop

After being rebuffed twice, Ageas has ended its pursuit of Direct Line Group, having valued the business at over £3.1bn.

Ageas first approached DLG in January and upped its bid earlier this month. DLG rejected them both, labelling the second offer as uncertain, unattractive and highly opportunistic.

On 22 March Ageas confirmed that after the two attempts it will not be following up with a third proposal.

Under London Stock Exchange rules, the insurer is now unable to make a move for DLG for six months unless another bidder emerges or DLG waives the restriction.

Concerns

The news is likely to be well received by

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: