Aviva obtains approval for Direct Line acquisition

The Competition and Markets Authority (CMA) is yet to release initial findings from phase one of its investigation into the takeover on 10 July, with Direct Line noting that clearance from the CMA is a condition to the acquisition. "Following constructive engagement with the CMA, Aviva remains confident of securing unconditional clearance by the phase one statutory deadline," Direct Line said. The CMA launched an investigation into the acquisition on 15 May to examine whether the merger would "result in a substantial lessening of competition within any market or markets in the United ...