Direct Line accepts Aviva’s £3.7bn takeover offer
Direct Line has accepted Aviva’s improved offer to takeover the company this morning in a deal one analyst has described as a "bold move that could turn out to be a gift that keeps on giving".
Based on the closing price of Aviva Shares of 489.3 pence on 27 November 2024 (being the last closing share price before the commencement of the Offer Period), this values each Direct Line Share at 275 pence and values the entire diluted share capital of Direct Line at approximately £3.7bn.
This represents a premium of approximately 73.3 per cent to the Closing Price of 158.7 pence per Direct Line Share on 27 November 2024; and 49.7 per cent. to the six month volume weighted average price of 183
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