Direct Line Insurance Share Discussion Threads

[tuftymatt] 05/3/2024 11:43

If that is a nice profit for you then good luck.
If we get to that level though I would suspect it's a big sign a better offer is coming or results will support the compaines view it's worth more than the current offer.

Good luck all 👍🏻

[huckers] 05/3/2024 11:27

Ageas have until the 27th March to make a firm offer.


The requirement under the Takeover Code for a potential bidder to either announce a firm intention to make an offer in accordance with Rule 2.7 of the Takeover Code, or announce that it does not intend to make an offer, by not later than 5.00 pm on the 28th day following the date of the announcement in which the potential bidder is first identified, unless the Takeover Panel has consented to an extension of that deadline (Rule 2.6 (a), Takeover Code).

[city1911] 05/3/2024 11:22

Depends on how good or bad the results are. How close DLG are to turning it around. Can not see any other offers coming in until at least after the results.

[bsharman3] 05/3/2024 11:14

How do you think this plays out from here. New CEOWill Ageas come back with a second offer? Other potential bidders? Dividend? Risk/reward must be squewed to the upside from here.

[jrphoenixw2] 04/3/2024 19:23

Interesting times

Hi today 216.75 (Yahoo), Lo 207.50 on volume of 3.51mm vs Avg volm 6.25mm.
LondonStockExchange #s differ: Volume = 4.44m (periodic average not given)

Hi intra-day reached +3% and more, sold off into the pm.

[laurence llewelyn binliner] 04/3/2024 18:25

Another day closer to results 21st March here, and the case for reinstating the dividend is getting louder to strengthen the share price in the face of a bid (or 2nd offer bid)..

[pete160] 04/3/2024 16:55

Bravely and /or foolishly, I've trebled my stake here today.

My view is that:
Aegis are not going to go away after just one initial approach - they will already have drafted a game plan before (leaking?) the first approach. They now know the reaction of the market - both theirs and DLG, and can finalise their next step(s).

It's a matter of how much more and with what element (cash or shares) they come back with - my view is that it will be a bit of both.

Their interest will have led other interested parties to dust off and bring forward their plans (many bidders for UK companies will be wanting to get deals done before a change of Gov't)

DLG management will need to sharpen their pencils on their forthcoming results, particularly in relation to the speed and size of reinstatement of a dividend (effectively they will be setting out their own case for the defence)

I was surprised that there wasn't much /any coverage in the weekend press, but by next weekend after digesting the budget, other 'sources' will be talking. In the meantime, the gentle daily increase in the share price reflects that not many people are selling.

IMO, the next approach (depending on DLG's result perhaps) will be 250p (going straight to 270p will make them look foolish - unless they wish to put in a figure to scare everyone else away?) after which another bidder or activist investor will push them to 260-270p to seal the deal.

[tuftymatt] 04/3/2024 11:56

So far so good today.

I think the market is leaning towards a second offer later this month. If it changes it's mind then we will instantly know I guess!!

Good luck all 👍🏻

[jrphoenixw2] 03/3/2024 18:45

Points taken, but yeah well, I just try to never invest hopes in 'surely [xyz]'.

That said I've an offer ready to go in on our hoped for future home tomorrow and I've that in draft ready to go. Plus, if rebuffed, a revised number in a 2nd offer, plus ditto in a 3rd 'final offer'.
We'll see, but there is something to making a show we've been properly shaken-down by this estate agent. But also here DLG by their 'diligent Board'. Whilst in both instances aiming to not over-pay.

[carpingtris] 03/3/2024 17:31

I'm hoping they do come in with another offer.. likely a cheeky offer first but must surely have had a back up offer planned incase rejected? Who in life goes with one offer without having a second and final price in mind.

Let's see what it is? Fingers crossed.

[longwell] 03/3/2024 16:15

Very rare for a second offer not to arrive. They would have spent a lot of time and money to get to this point. I can see another 25p added to cash value but no more.It's now whether DL is now in the shop window.

[tuftymatt] 03/3/2024 07:59

Good luck all 👍🏻

[nellynell] 02/3/2024 21:03

Resistance and support doesn't really apply as much where a bid is incoming. If on Monday an update on the offer comes through we are going through support/resistance one way or another.

[jrphoenixw2] 02/3/2024 17:24

Quite JJim, nothing wrong in the slightest. I was just trying to see below the move and what likely triggered it.

For the record the recent intra-day high was 210.60 on Wed 28/2 where it closed at 202.20

Hence 210.60 becomes near-term upside resistance and a notable price to watch. Sometimes it takes a few tries/fails to break-out higher, we'll see.

[nellynell] 02/3/2024 13:08

Still some profit in this for any Sat on the side lines waiting for a entry I think.

[jubberjim] 02/3/2024 09:37

Re Norges Bank

Nothing wrong with booking a profit?

I have been in this from 208 but was looking to add around 157 before it all blew up in my face so while tad disappointed not to unhappy

As I said 270 cash gets the job done for my part.

[jrphoenixw2] 01/3/2024 19:38

RNS this pm, re: Notifiable holdings
Norges bank mid week reduce their posn from c4% to 2.94%. Ie about 13.7mm shares/voting rights sold.

This against daily volume at the LSE of 45.5mm on 28/2, 11.5mm 29/2 and 6.1mm today.

[huckers] 01/3/2024 11:57

Understandable. That behaviour is endemic across most boards!

[wba1] 01/3/2024 11:34

Huckers. I still hold a decent load of AV shares and follow the board. There are some good posters and I always look for cjac's analyses, but the regular outbursts of politics unrelated to AV (or even investment generally) still puts me off.

[huckers] 01/3/2024 11:29

wba1. Thanks for the insights on DLG. Perhaps one day you'll make a return to the AV board?

[wba1] 01/3/2024 11:27

An interesting side question in this story is what happens if Ageas fail to go through with a takeover? One overlooked issue is the effect on Ageas. It could easily put them into play as a target for the real gorillas in the global insurance market (Allianz/Axa/Zurich/Generali and a few more left field options). Ageas have long been thought vulnerable given their mid rank size globally and a weak opening bid followed by a failure to follow up (meaning a lack of planning for initial rejection) would not look good. If I were their management this would be a factor in my thinking.

[carpingtris] 01/3/2024 10:31

Thanks elbrus55!

[tuftymatt] 01/3/2024 10:05

It could very well play out that way too elbrus55,

The only thing I am sure of is that I will stick around and see how this plays out regardless of the short term price movement.

Good luck all 👍🏻

[elbrus55] 01/3/2024 09:20

It think it is possible that DLG will give them access to the results in advance, subject to a non-dislosure agreement and maybe after getting an enhanced offer to show they are serious.In that case,.you may get a bid update alongside the final results.