I know that pal. My point is I hope what you are saying is right but I am not going to act on it as the reality of the info is just a post on a BB.
I am not saying what you have posted is untrue but it isn't the same as hearing such information first hand.
Good luck all 👍🏻 |
Pal , if you are given the news from a credible source (ie from the CEO or any one from the Board) before the news is out then this is illegal for your information . Only an insider mole can release this news and is up to everyone of us whether to take the bite at the cherry or not . |
If I had been given the insider news from a credible source my actions would for sure be different but unfortunately I have not.
Good luck all 👍🏻 |
Even given the insider news and yet many are scare to commit - this is the world we all are living , always looking behind the back and afraid . 😞 |
We all hope you are right.
Added some more earlier today but am not loading the boat as once bitten twice shy.
Good luck all 👍🏻 |
To everyone to take note : a Aviva insider mole - The announcement of the confirmation of a firmed offer will be before Friday, 20th December . Load up DLG Now - Santa 🎅 comes early this year to hand out Nice Present 💝 |
Quite a discount now to the offer, nerves before next week? |
Why raise the offer if it’s not happening? |
O/t it is nice to know that in return for being paid a fortune, all the participants will at least have to work at an inconvenient time of year! |
 I must politely disagree about the issue of last minute announcements. The final stage of such a process is ensuring the whole board and major shareholders are onside. I know this will have been done in principle already but they will expect a more comprehensive briefing including assurances about any issues raised to be interrogated in the data room. Leaving it to the very last minute provides opportunity for any opposed to throw spanners in the works at a time when they cannot be resolved without an extension of the deadline. And this is further complicated by it being 24 December. And as for leaving it as late as possible without taking this risk, it enables a more thorough examination of the most complex issues such as adequacy of claims reserving. The bigger the sample they can look at and the more they can interrogate operational management who have set reserves - both at case and overall level - the better.
I have seen a bid process where problems emerge at the last minute (albeit from a parent rather than an independent source) and it is not a nice development. |
Lots of speculation about when the offer will be formalised but absolutely no reason to announce anything as long as it's done before the deadline on Tuesday.
There is no downside to leaving it to the last minute and no upside to announcing it tomorrow or Friday or any other day.
Just chill out, it's going to happen!
NMRN |
DailyT article yesterday - a few extracts:
'Hundreds of jobs at risk from Aviva’s £3.6bn takeover of Direct Line
Merger could lead to duplicate roles needing to be cut
------------
Hundreds of jobs are at risk from Aviva’s proposed £3.6bn takeover of Direct Line, as the insurance giants rush to combine ahead of a crunch Christmas deadline.
The merger to create Britain’s largest insurer is likely to see management swing the axe at a variety of divisions, according to analysts.
...
But the deal is likely to lead to significant job losses as management cut roles duplicated across head office, human resources, marketing and senior management, according to City analysts.
Direct Line’s wage bill alone could be slashed in half from £210m to £100m because of the tie-up, according to Deutsche Bank.
...
Some jobs are also likely to go across Aviva’s 23,000-strong workforce because of the duplication with Direct Line’s staff.
Cost cuts are likely to be deeper than in other similar mergers because of the significant overlaps across the two companies, analysts say.
According to Barclays, “both companies write direct business that is conducted via their own call centres and online portals, circumventing price comparison websites and brokers,” – potentially opening the door to a merger of these operations.
Both also have a network of repair centres, with Direct Line owning 23 garages and Aviva a similar number under its Solus brand. These could also be combined to drive savings.
Direct Line’s cost base is expected to be reduced by up to a third, according to most City estimates, with IT systems, marketing, claims management and staff targeted for cuts.
...
Dame Amanda and Mr Winslow are expected to give more information to investors about the cost savings if they strike the deal this week.
Direct Line has previously said it expects “significant synergies” from the deal.
Aviva said it would deliver “material” cost synergies and these would be “incremental” to Direct Line’s existing cost-cutting drive. |
That would make sense. |
My assumption would be Friday announcement. May as well take the time available for due diligence but probably unwise to let it go over the weekend with the deadline on Tuesday next week. |
Nothing yet. |
A firm bid tomorrow? Surely likely this week if not as there's not a lot of time left with Xmas day rapidly approaching. |
Or people could just sell all their DLG shares the closer it gets to the 275 price before the deal is done and dusted obviously |
If people are not in a rush to sell the Aviva shares then they will be north of five pounds easy possibility 550-600 |
I wouldn't worry to much about the gaps in valuations at the moment I can see them pretty much closing up once the bid is officially made hopefully sometime next week :-) |
Using an Aviva share price of 473p that makes the offer 270.31 including up to 5p dividend.0.2867 times 473p is 135.61pCash fixed at 129.7pUp to 5p divided Is 270.31Unless I have got my maths wrong |
Plus 5p div |
aviva at 475p values the bid at 270.88p now. |
Latest News - Jefferies says that the merger between Aviva and Direct Lime will be completed , therefore any doubt that Aviva will not go ahead is just out of the question . According the combined motor insurance is only 14% and not 20% as originally mentioned , therefore CMa will sure to approved this merger . Jefferies recommended BUY rating on Aviva and raised Aviva share price from £4.76 to £5.60 |
Shorts above 0.5% now ZERO
Qube closed their short down to 0.07% on Friday |
Register to chat with like-minded investors on our interactive forums.
Hot Features
Premium
