Direct Line shares surge 42% on rejection of Aviva’s $4.2 billion takeover offer

Direct Line’s shares surged as investor’s hoped the rejection might pave the way for a second takeover bid from the U.K.’s largest insurance company

UK car insurer Direct Line rejects £3.3bn takeover offer by Aviva

The company, part way through a turnaround plan, says the cash and shares proposal undervalues the business
Financial Times - 4d
Direct Line shares jump 38% after rejecting Aviva’s £3.3bn offer to create insurance giant – business live

UK car insurer, which owns Churchill and Green Flag brands, said approach was ‘highly opportunistic and substantially undervalued the company’. In other takeover news, the Australian investment ...
The Guardian - 4d
Aviva goes direct to Direct Line shareholders

Contact could pave way for hostile takeover bid for smaller rival
Financial Times - 3d
Direct Line playing hardball with Aviva bid

The UK insurer is probably betting that, given the juicy savings on offer, it can squeeze Aviva for more
Financial Times - 3d
What next in Aviva’s bid for Direct Line?

A combination would redraw the UK insurance market
Financial Times - 2d

UK car insurer Direct Line rejects £3.3bn takeover offer by Aviva