Aviva confirms Friends Life bid plans in £5.6bn move
Deal would be structured on a share swap basis.
Aviva is expected to make a formal offer to acquire all of the ordinary share capital of Friends Life which is leading player in the UK life and pensions market.
The board of Friends Life has indicated to Aviva that it is willing to recommend the key financial terms of a possible offer to its shareholders subject to reaching agreement on other terms and conditions.
Aviva, while not having yet made a firm bid, confirmed that if it went ahead it would acquire the entire ordinary share capital of
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