Aviva agrees to buy U.K. insurer Direct Line for £3.7 billion [Fortune]
Corebridge Financial Inc. (CRBG)
Company Research
Source: Fortune
Each Direct Line shareholder will be entitled to receive 0.2867 new Aviva shares, 129.7 pence in cash and as much as 5 pence in dividend, according to a statement on Monday. The transaction would value each Direct Line share at 275 pence apiece, representing a premium of about 73% to the closing price on Nov. 27, when Bloomberg News first reported the takeover interest. The board of Direct Line considers the terms to be “fair and reasonable” and intends to recommend unanimously that its shareholders vote in favor of the takeover, according to the statement. Upon completion, which is expected around mid-2025 subject to conditions and approvals, Aviva will hold roughly 87.5% of Direct Line. The deal “delivers significant value” and “reflects the attractiveness of Direct Line,” Danuta Gray, the target's chair said in the statement. Direct Line shares jumped as much as 3.6% in early London trading on Monday, extending their gains to about 58% since the initial Nov. 27 report on Avi
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- 58% of Americans' careers are cut short: How to be ready for unexpected retirement [Yahoo! Finance]Yahoo! Finance
- 58% of Americans' careers are cut short: How to be ready for unexpected retirement [Fortune]Fortune
- Aviva Agrees to Buy UK Insurer Direct Line for £3.7 Billion [Yahoo! Finance Canada]Yahoo! Finance Canada
- Aviva Agrees to Buy UK Insurer Direct Line for £3.7 Billion [Yahoo! Finance]Yahoo! Finance
- Corebridge Financial, Inc. (NYSE: CRBG) had its price target raised by analysts at Piper Sandler from $34.00 to $35.00. They now have an "overweight" rating on the stock.MarketBeat
CRBG
Earnings
- 11/4/24 - Beat
CRBG
Sec Filings
- 12/16/24 - Form 3
- 12/13/24 - Form 3
- 12/13/24 - Form SC
- CRBG's page on the SEC website