Aviva and RAC announce terms of offer

The boards of Aviva and RAC have announced the terms of a recommended cash and share offer for the RAC, the UK motoring services provider, for approximately £1.1bn. The board of Aviva said it believed that the acquisition would accelerate the growth and profitability of NU.

The acquisition will bring together RAC's powerful brand and customer base (including 6.7m roadside assistance customers) with NU's complementary expertise, where it already insures one in seven of all UK motor vehicles

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