Direct Line Insurance (GB:DLG) has released an update.
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Direct Line Insurance Group has rejected an unsolicited acquisition proposal from Aviva, which valued the company at 250 pence per share, considering it undervalues the firm’s potential. The Board of Direct Line believes in the capabilities of its new leadership and its strategy to enhance growth and shareholder returns. This development marks the start of an ‘offer period’ under takeover regulations, with Aviva having until December 25, 2024, to make a firm offer.
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