Aviva rejects £5bn bid; RSA has rights issue backing
Aviva this morning (16 August) defended its decision to reject RSA's £5bn all-cash offer for its general insurance activities, maintaining that the "highest value to shareholders" would be secured by retaining the business.
Confirming that it had been approached on 28 July, Aviva highlighted potential further synergies between its life and non-life businesses, and added that the bid undervalued the assets and the capital advantages that they currently offer.
Aviva chairman Lord Sharman said that the board had looked at...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.
Purchase
Follow us:
