Market
Will Aviva's acquisition of Direct Line receive regulatory approval by December 31, 2025?
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UK Competition and Markets Authority announcements, financial news outlets
Story
Aviva Nears $4.6 Billion Deal to Acquire Direct Line After Sweetened Offer
Dec 5, 2024, 10:19 PM
Direct Line Insurance Group has agreed to a sweetened $4.6 billion takeover offer from Aviva, marking a significant development in the UK insurance sector. The deal comes after Direct Line had been fending off takeover interest since early this year. Aviva's persistence in raising its offer has finally led to a preliminary agreement, signaling a potential consolidation in the industry. Top shareholders of Direct Line were initially holding out for a higher bid. The acquisition is seen as a strategic move for Aviva to expand its presence in the UK motor insurance market.
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