Allianz tipped to put in £5bn bid for the AA
Allianz has been circling the roadside assistance firm and Top 100 UK broker AA, setting the scene for a potential £5bn bid, recent reports have suggested.
According to Sky News and The Times, the possible deal emerged following AA backers, TowerBrook Capital Partners, Warburg Pincus and Stonepeak being open to selling it.
The potential bid target includes the broking arm, AA Insurance Services, ranked with £250m-£300m of general insurance premium in Insurance Age’s Top 100 listing.
Banking sources told Sky News last weekend (29 and 30 August) that Allianz had been in discussions about an offer over a period of several months.
Sky News added that at
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