Direct Line Insurance Share Discussion Threads

[nellynell] 13/3/2024 11:33

Ahhhh stuck on a spike are we trying to get out. Nothing clever about it as its called buy and hold. The so called clever little boys are the ones who try to play the big boys games and try to trade their way out of trouble like headless chickens anyway cool story bro :-)

[zimbtrader] 13/3/2024 11:26

Good for you, Nelly, good for you. What a clever boy you are!

[nellynell] 13/3/2024 11:22

Oh please I have milked it speak for yourself :-)

[zimbtrader] 13/3/2024 11:19

Great that the BoD, not shareholders who own the business, get to decide! Personally, I want to know what the revised offer is so that I can decide if I want to sell or not. I do not want an unproven and 'new' BoD to make a decision that prioritises their positions and based on a wildly speculative assumption by many here that dividends will 'restart'. Be assured if they do, it will not be at anything like the previous level so not sure you'll be 'milking' it for years to come. This could just as easily become an underperforming share as far as yields are concerned, so stop jumping to absurd assumptions without having anything like the full facts available to you.

[skinny] 13/3/2024 11:15

A nice morning's work if you managed to catch it earlier!

[wolansm] 13/3/2024 11:13

The increase offered isn't enough for me to be interested, obviously got some fat built in for the bonus at year end

[nellynell] 13/3/2024 11:11

Excellent walk away Ageas some of us want to continue to milk the cow for years to come once the Dividends restart

[dmf] 13/3/2024 11:03

Ageas will 'walk away'

Their revised offer is only marginally higher than the initial one

[vikingwarrier] 13/3/2024 10:57

I saw the drop and jumped on. Hope I got a bargain

[laurence llewelyn binliner] 13/3/2024 10:45

Results 21st next week, and the BOD clearly see the news flow will drive the share price up and over the AGS bid price organically, I read that as the dividend will be re-instated and other initiatives upstream will be driving value for shareholders.. :o)

We will soon find out..!

[carpingtris] 13/3/2024 10:44

27th is the deadline and don't think this pushes that out any further.

[huckers] 13/3/2024 10:42

Have they done this to push the deadline further out?

[ashbox] 13/3/2024 10:41

market looks like they consider Ageas out of the running with that offer!

[tuftymatt] 13/3/2024 10:41

I don't think that's a bad move by Ageas to be honest.

Creep the bid up shows they are not going to overpay so will it get the board / major shareholders think more about trying to get a deal away at 250??

No wonder my top up at 220 got hit just now!!

Good luck all 👍🏻

[carpingtris] 13/3/2024 10:39

Surely that is embarrassing to come in again with such a small increase?

Third time lucky anyone?

[speedsgh] 13/3/2024 10:35

@jrp - great minds think alike! :-)

[jrphoenixw2] 13/3/2024 10:32

Blimey Speeds - Jinx!?

[jrphoenixw2] 13/3/2024 10:31

RNS just now, hmmm revised offer .... not sure why Agaeus bothered! What we need is a competitor entering the bidding....
-------------
'Further statement regarding possible offer by Ageas SA/NV ("Ageas")

The Board of Direct Line Group (the "Board") notes that on 9 March 2024, the Board received a second highly conditional, non-binding indicative proposal from Ageas to acquire the entire issued and to be issued share capital of Direct Line Group (the "Latest Proposal").

The terms of the Latest Proposal comprise 120 pence in cash and one new Ageas share for every 28.41107 Direct Line Group shares. As at closing on 8 March 2024, being the trading day immediately prior to the day the Latest Proposal was received by the Board, the Latest Proposal implied a value of 237 pence per Direct Line Group share, and represented an increase in value of approximately 3% relative to the first proposal, which as at closing on 8 March 2024, implied a value of 231 pence per Direct Line Group share.

The Board considered the Latest Proposal with its advisers and continues to believe the Latest Proposal is uncertain, unattractive, and that it significantly undervalues Direct Line Group and its future prospects while also being highly opportunistic in nature. Accordingly, the Board unanimously rejected the Latest Proposal.

The Board is confident in Direct Line Group's standalone prospects. Direct Line Group will release its 2023 preliminary results on Thursday 21 March 2024 and will also then provide an update on further initiatives to build on the operational improvements implemented during 2023.
[etc etc/edit]

[speedsgh] 13/3/2024 10:31

Latest combined cash/share offer implies 237p per DLG share vs 231p previously. Not sure why Ageas bothered making such a paltry offer. Summarily rejected by DLG as it should be...

Further statement re possible offer by Ageas -

[arthur_lame_stocks] 13/3/2024 07:49

For me, that would depend on how much was cash and how much shares.

[carpingtris] 12/3/2024 20:22

Just been googling Ageas and news and there's an article suggesting potential 279p as a sweetened offer?? Theinsurer.com? Not sure how much substance or if just guessing but I'd take 279p.

[wba1] 11/3/2024 23:17

elbrus55; no I didn't. I looked at the acquisition costs for similar operations, also with debt(an inevitable part of doing business) and read across - making no allowance for the vastly superior market positions of Av in the UK and Canada, or for the benefits of diversity, or for the now proven management turnaround, and taking a conservative approach to the valuations. You have pointed to the one area where I took a punt, but at £1bn out of £22.5bn it matters little whether I am right or you are. The big values are in IWR and GI. I was, of course, very conservative on the international valuation since Aviva is in the process of selling the remaining Singapore investment for £930m in total, which should complete shortly.

But the point remains. Generali cannot afford a £20bn+ acquisition so Aviva is a non-starter which puts more pressure on other targets. And Av does yield 7% and there is no reason to think the dividend is under any sort of pressure based on recent results. I was only seeking to answer points about the insurance sector made in other posts and to note the need for Ageas to fatten up or risk getting eaten. As for Aviva; make your own judgement on them as an investment - that is a different matter and not relevant to the case for DLG.