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FINANCIALS: Aviva Bids For Direct line

FINANCIALS

Keeping an eye on Aviva and Direct Line bonds this morning after Aviva announced a bid for the company that valued direct line at a c.60% premium to its closing share price on Nov 18. The direct line board swiftly rejected the proposal. Due to UK takeover rules Aviva now has until 25 Dec to make a formal offer.

DLGLN Tier 2 - Baa2 / AVLN Tier 2 - A3
DLGLN 4% 2032
AVLN 6.875% 2053

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Keeping an eye on Aviva and Direct Line bonds this morning after Aviva announced a bid for the company that valued direct line at a c.60% premium to its closing share price on Nov 18. The direct line board swiftly rejected the proposal. Due to UK takeover rules Aviva now has until 25 Dec to make a formal offer.

DLGLN Tier 2 - Baa2 / AVLN Tier 2 - A3
DLGLN 4% 2032
AVLN 6.875% 2053

Keep reading...Show less