Direct Line Insurance Share Discussion Threads

[bargainsniper] 28/11/2024 08:01

I'm a bit cynical on this oneWe shall see

[speedsgh] 28/11/2024 07:55

The generous view: the DLG board's immediate rejection with refusal to engage with Aviva over the proposal is a negotiating ploy designed to achieve a better offer/outcome for DLG shareholders.

The cynic's view: the DLG board are loathe to give up their recently-acquired well-remunerated jobs and will act accordingly the preserve the status quo and DLG's independence. there is no room for the consideration of shareholders on this gravy train.

Take your pick!

[che7win] 28/11/2024 07:55

Aegis bound to be interested too

[bargainsniper] 28/11/2024 07:55

Aviva told investors that the Direct line board had rejected the offer out of hand, as "substantially undervaluing" the business, adding it had "declined to engage further with Aviva".

[huckers] 28/11/2024 07:33

I can understand the board turning down the initial offer in expectation of an improved second bid (>260p?) occuring a couple of weeks from now. The DLG CEO is former AV so cannot look to be rolling over for his old firm. I would be annoyed if a second higher bid was dismissed out of hand though.

[laurence llewelyn binliner] 28/11/2024 07:23

AV now have until 5pm 25.12.2024 to confirm, raise or step back from the bid under the takeover code..But given market hours I think that results in 12 noon XME..

[bargainsniper] 28/11/2024 07:17

250p a share offer turned downthey might regret

[jubberjim] 28/11/2024 07:00

On a sidenote this might explain the mini spike in the share price first thing yesterday morning when it opened up around 164/165 at 08 00 before joining the others in the downward drift.

'If I knew then what I know now'

No hurry Good Luck all

[carpingtris] 28/11/2024 06:16

Ageas came in with an increased albeit small second offer earlier in the year after the first rejection so hoping AV. do the same and it gets accepted!

[jubberjim] 28/11/2024 05:44

Thank goodness

Something to shake the market out of its lethargy.

I would have quite happily taken the 250 if it had been offered the first time round
so seems fair to me.

Good luck

[alex1621] 27/11/2024 23:29

Aegis did not want to go hostile. I wonder if Aviva will?

[pete160] 27/11/2024 23:09

An offer for dlg worth possibly 245 (once the av price drops) may well bring aegis back for another look at dlg,Hasn't their price risen markedly since their previous tilt at dlg, so either a cash or cash and share offer may be easier to justify to its large Chinese shareholder?

[justiceforthemany] 27/11/2024 22:50

Yet another FTSE company not disclosing bids and is happy to have their share price languish 60% below the offer price.

Should be illegal and the board are clearly selfish and shameless.

[alex1621] 27/11/2024 22:27

The Times reporting that "Aviva signalled in a statement to the stock exchange after the market closed on Wednesday that it was still interested in a deal ...". I suspect another offer will come in before Christmas. It helps matters that the CEO is ex Aviva.

[boonkoh] 27/11/2024 22:17

A key question is whether Aviva shareholders will back the deal, given that there will be huge issuance of new Aviva shares to fund this takeover/merger.Not surprised the DLG board rejected. Language used is boilerplate. Always reject the first bid. If this was Aviva final offer price there will be another chance for DLG to accept. Think it will be sweetened, either more pence, or more mix of cash rather than shares. (i hold in the Boon Fund)

[longwell] 27/11/2024 21:19

The board are idiots.2nd bid rejected and share price languishing when takeover not in play.They are delusional if they expect share price to be anywhere near 2.50 under their management?.How much are they getting paid to lose the shareholders money.

[wessie] 27/11/2024 20:44

Anyone have a list of the major shareholders?

[carpingtris] 27/11/2024 20:42

Interesting times again!

Hoping AV. come back with an improved offer and puts us out of our misery or anyone else thinking about it steps forward.

[laurence llewelyn binliner] 27/11/2024 19:46

#jrphoenixw2, given that AW came from Aviva, and has recruited some of his new team from there as well, he has a lot to prove and needs time to do it..

Bio - Adam Winslow became Chief Executive Officer of Direct Line Group in March 2024. He brings extensive financial services and insurance expertise gained over 20+ years in the sector. He joined DLG from Aviva where he was CEO of UK & Ireland General Insurance..

Bio - Jane Poole joined DLG as Group Chief Financial Officer (CFO) in October 2024, bringing over two decades of experience in financial services and general insurance. Since 2021 Jane served as CFO for Aviva UK and Ireland General Insurance..

We can only sit back and watch, get off on a spike IF it happens to get near 250 pence, have confidence and wait for the turnaround 25/26, or end up with AV shares instead if accepted, no bad options really, as a holder for income the AV 7% yield is way better than what we are currently getting here.. :o)

[cogs1] 27/11/2024 19:34

Interesting stuff here. I'm a fairly new investor in stocks, but do have holding in DLG...looking for some advice/opinion please. I ended up kicking myself last time we went down this road...last minute decided not to cash in when share price rised after last offer, then ended up regretting it. Looks a great offer (250) but can see that DLG still talking rubbish "substantially" undervalued - really!!! And as such, feel they will try to block any reasonable offer put forward. So, what options do Aviva have...could they go hostile? Is that a realistic possibility? Could big DLG shareholders influence the board to see sense? I'd love to see this deal done but can't assess the chances of success or when to cash out tomorrow if the price shoots up. Cheers

[huckers] 27/11/2024 19:07

250p looks fair to me. Hopefully, Aviva take the time and return with a mildly improved offer (something nearer 260p?) which is then taken to the institutional investors.

[tuftymatt] 27/11/2024 19:07

Interesting news and lets see how it plays out this time then!!

I would be happy getting more AV. shares too but maybe it opens up other offers??

Good luck all 👍🏻

[jezza123] 27/11/2024 19:05

Why isn't a bid put out to a vote to the shareholders - rather than the blokes who don't want to give up their huge salaries making the decision?

[value hound] 27/11/2024 18:56

DLG's response... "The Board considered the Proposal with its advisers and concluded that it was highly opportunistic and substantially undervalued the Company.


"There can be no certainty that any firm offer will be made..."

Arrogant nonsense?