Zurich withdraws RSA offer
Zurich has abandoned the takeover bid of RSA following a “deterioration in trading performance”.
RSA has revealed that Zurich terminated discussions regarding a possible takeover following a decline in the performance of Zurich's general insurance business.
The board noted in a trading update: "As a result of recent deterioration in the trading performance of Zurich's general insurance business, Zurich has terminated discussions with RSA regarding a possible offer."
Last month Zurich proposed a "possible offer" of 550p per share for RSA which valued the business at £5.6bn.
The RSA board
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