Aviva submits £3.6bn bid for Direct Line takeover

275p per share valuation

Cameron Roberts
clock • 1 min read

Insurer, Aviva, has submitted a takeover bid of £3.6 billion to acquire Direct Line. The bid entails Aviva paying 275p per share.

The deal would see Aviva pay 129.7p per share in cash, with the remaining valuation to be made up of Aviva shares. It also includes a 5p dividend payment, subject to board approval. Previously Aviva had tabled a bid worth 239p per share, which was rejected by the Direct Line board. Aviva and Direct Line said in a joint statement in response to the accepted offer: "In addition to the attractive headline value per share, the combination would provide the opportunity to deliver significant synergies, creating substantial additional value for both sets of shareholders." The bid represe...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Insurer

Aviva launches life insurance partnership with Tesco

Aviva launches life insurance partnership with Tesco

Product available to shoppers and Clubcard members

Cameron Roberts
clock 20 August 2025 • 2 min read
Next Intelligence adds National Friendly to protection panel

Next Intelligence adds National Friendly to protection panel

Upcoming panel expansions planned

Jaskeet Briah
clock 20 August 2025 • 2 min read
New COO for Swiss Re L&H

New COO for Swiss Re L&H

Robin Spencer to take the role

Cameron Roberts
clock 19 August 2025 • 1 min read

Loading page