Direct Line agrees £3.7bn Aviva takeover insurance Direct Line’s board has agreed to accept Aviva’s £3.7bn takeover of the insurer, bringing to an end the firm’s run as an independent company. In a stock exchange announcement this morning, Direct Line’s board endorsed Aviva’s latest £3.7bn offer for the business. Under the terms of the deal, shareholders will receive 0.2867 Aviva shares, along [...]
Tensions flair at Direct Line following Aviva takeover bid insurance A battle is brewing over Direct Line about whether to accept any further takeover bids from Aviva, as its CEO seeks more time to turn the business around. Talking to the Sunday Times following the rejected £3.3bn bid from Aviva last week, Direct Line CEO Adam Winslow urged shareholders to back his turnaround plan over [...]
How Aviva and Ageas could go head-to-head in Direct Line bidding war insurance The stage is set for a bidding war after Aviva threw Direct Line back into the takeover spotlight with a £3.3bn approach.
Direct Line shares surge after £3.3bn Aviva takeover approach November 28, 2024 Shares in Direct Line surged as much as 40 per cent on Thursday morning after the insurer rejected a £3.3bn takeover approach from larger rival Aviva.
Direct Line rebuffs ‘highly opportunistic’ approach from Aviva November 27, 2024 In a stock exchange announcement, Aviva confirmed that it had submitted an offer last week, which valued the FTSE 250 firm at 250p per share.
Direct Line considers cutting 550 roles as motor market remains ‘challenging’ November 11, 2024 Direct Line is considering cutting around 550 roles as the insurance broker battles with "challenging" market conditions.
Admiral and Direct Line shares sink as Labour takes aim at ‘spiralling’ car insurance costs October 16, 2024 Shares in insurers Admiral and Direct Line slumped on Wednesday after the government unveiled a new taskforce that it said would tackle the "spiralling" cost of motor insurance.
Ageas: Belgian insurer mulls UK takeover after failed Direct Line bid October 6, 2024 Belgian insurance giant Ageas is open to making further takeover bids for British companies after a failed attempt to snap up Direct Line earlier this year.
Direct Line returns to profit but customers flee after firm hikes insurance prices September 4, 2024 Direct Line's operating profit undershot expectations for the first half of 2024 as the firm shed more than a quarter of a million motor insurance customers following price hikes.
Direct Line to report interim results in indication of turnaround plan September 1, 2024 Direct Line shareholders will get an early sign of whether the insurer’s turnaround plan is beginning to bear fruit as it posts its interim results on Wednesday. Shares in the insurer, which owns Churchill, Privilege and the breakdown recovery provider Green Flag, are down 12 per cent since May and its long-term record makes for [...]