It's going to take a few months..
"..it is expected that the Scheme Document containing further information about the Acquisition and notices of the Court Meeting and the General Meeting, and which will be accompanied by the Forms of Proxy, will be published beginning-mid February 2025. The Court Meeting and General Meeting are expected to be held in March 2025. The Scheme Document will specify the actions to be taken by Direct Line Shareholders and will contain an expected timetable for the implementation of the Scheme.
· The Scheme is expected to become Effective in mid-2025" |
Merry Christmas and Happy New Year, well done to those who waited ! |
 Here it is!
The boards of Aviva and Direct Line are pleased to announce they have reached agreement on the terms of a recommended cash and share offer for Direct Line (the "Acquisition").
· The Acquisition builds on Aviva's strong performance over the last four years, with Aviva having been transformed into a high-performing business with a clear strategy. The Acquisition will accelerate Aviva's momentum and will offer customers and shareholders a number of benefits as set out below.
· Under the terms of the Acquisition, each Direct Line Shareholder will be entitled to receive:
For each Direct Line Share held:
0.2867 New Aviva Shares;
129.7 pence in cash; and
up to 5 pence (in aggregate) in the form of dividend payments to be paid (subject to the approval of the Direct Line Board) prior to Completion
(together, the "Offer Consideration")
· Based on the Closing Price of Aviva Shares of 489.3 pence on 27 November 2024 (being the last closing share price before the commencement of the Offer Period), this values each Direct Line Share at 275 pence and values the entire diluted share capital of Direct Line at approximately £3.7 billion.
· This represents a premium of approximately:
° 73.3 per cent. to the Closing Price of 158.7 pence per Direct Line Share on 27 November 2024; and
° 49.7 per cent. to the six month volume weighted average price of 183.7 pence per Direct Line Share to 27 November 2024.
· Upon Completion, it is expected that Aviva Shareholders will own approximately 87.5 per cent. and Direct Line Shareholders will own approximately 12.5 per cent. of the issued and to be issued share capital of Aviva. |
Don’t shoot the messenger - I just related what I heard - that’s all.
It definitely will happen , just have a little patient Pal . Sleep well. Goodnight . |
Bounty,They could also ask for an extension, but there would still need to be an RNS for that too. |
I think what people are getting at is that you said the deal would be announced on Friday just gone based on some inside knowledge. Clearly that info was completely false from you. So do not pretend you have any better idea than anyone else because you don't. It most likely will happen of course. |
Don't know which has shorter odds winning the lottery or a mole who give you such false information that makes you out to be a complete idiot who sprouts lies 😆 |
Don’t you know many people who played the lotto asked the machine to pick the numbers for them and you are only the minority that give and choose the numbers to play the lotto . No wonder you still struggling to win the jackpot and got a lot to learn - nellynell. 😂 |
Lol super trader you have made me smile continously whilst you're at it might as well ask A.I for the lotto numbers 😄 |
I doubt it. The deadline is surely to announce a firm offer or no intention to offer by, presumably by RNS. |
They have till 5pm Xmas day don't they?
But can't be that day so can only assume tomorrow or Tuesday??
Can the news be the next trading day after the festivities? |
I asked ChatGPT and it had no idea!
Obviously I need to pay the subscription.
Having said that I am expecting news tomorrow or Tuesday at the open at the latest given that the deal has been agreed in principle, afaik. |
Not long to wait and nellynell will find his face covers with smashed eggs and won’t be smiling then 😃 |
Hoping for news 7am tomorrow.. like waiting for Christmas, lol, one more sleep... fingers crossed 🤞 |
Lol moved on from the dodgy mole to artificial intelligence |
According to AI (Artificial intelligence)generated and obtained from relevant and reliable sources , Aviva and Direct Line is a Done Deal just waiting to be confirmed by Aviva . |
Again, I think they were hoping to have a proper update in that space rather than a re-hash of the story so far.
Interestingly though they did have a standout text box stating '£3.6 bn deal for Direct Line agreed by rival Aviva'
How can it be 'agreed' if there is no formal offer yet? |
Good find Skinny. |
pyemckay,
Nice try mate but he doesn't really understand facts and logic. Try dressing it up as a fairy story.
NMRN |
the bid is worth 2.66 at todays aviva price. 9p less than the original offer.
23p uplift which is pretty similar to the difference in prices after the 275p offer |
You think so!!! The way the share price moves back for both DLG and AV tell me that 100% certain the deal is coming whether today or Monday - it doesn’t make damn difference to me .In fact it gave me an opportunity to accumulate more at £2.41 and average down the DLG Share price and I too today bought AV at £4.524 - otherwise these kind of share price cannot get at this moment in takeover time I am a gambling punter and I know what is a good odd - 😆 imo |
Lol think someone needs to do a chargeback on the payment to the dodgy mole.
So we have 2 days left and 1 of the 3 scenarios is possible
1. formal offer
2. Extension of deadline
3. No intention to make an offer.
All will revealed within the next 96 hours or so. |
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