Aviva has hit ‘strategic jackpot’ with £3.6bn DLG deal agreement, claims analyst
An analyst at investment firm Hargreaves Lansdown has described Aviva’s £3.6bn bid as a “golden ticket” for Direct Line Group shareholders.
This morning the firms jointly announced that they have reached preliminary agreement on the financial terms of a potential acquisition of the latter by the former.
Based on Aviva’s last closing share price before the offer period started, being 489.3 pence per Aviva share, the proposal represents total consideration valued at 275 pence per Direct Line share, valuing the business at £3.6bn.
Direct Line’s board had to admit that Aviva’s proposal is a golden ticket they’d struggle to match
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