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Stock impact report

Direct Line Shares Surge After Rebuffing £3.3 Billion Aviva Bid [Yahoo! Finance]

Corebridge Financial Inc. (CRBG) 
Company Research Source: Yahoo! Finance
Most Read from Bloomberg In Traffic-Weary Toronto, a Battle Breaks Out Over Bike Lanes In Italy's Motor City, Car-Free Options Are Growing New York City's ‘Living Breakwaters' Brace for Stormier Seas In Kansas City, a First-Ever Stadium Designed for Women's Sports Takes the Field London-listed Aviva submitted a non-binding proposal valuing Direct Line at about 250 pence per share, it said in a statement Wednesday that confirmed an earlier Bloomberg News report. The price represents a 58% premium to Direct Line's Wednesday close. Direct Line stock rose as high as 219.8 pence in early trading, below the value of Aviva's offer. Aviva shares dropped as much as 3.6%. “Aviva believes that an acquisition of Direct Line would deliver attractive returns for both Aviva and Direct Line shareholders, including unlocking value that is inaccessible to Direct Line standalone,” it said in the statement. “Aviva believes that the acquisition would deliver material cost and capital synerg Show less Read more
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