RSA: initial Aviva offer is fair value
RSA has stood by its initial £5bn all-cash offer for Aviva's UK, Irish and Canadian general insurance businesses, saying that it represents "fair value".
Last week, news leaked out that RSA had brought forward a £5bn rights issue-backed deal to buy up a large chunk of Aviva's non-life operations.
And in a stock exchange announcement this morning (16 August), Aviva confirmed that it had rejected an approach along these lines.
In the RSA circular, released to answer Aviva's statement, the...
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