Insurance giant Zurich has revived its attempt to acquire rival business RSA with a new proposed cash offer of 550p per share, valuing the company at about £5.6bn.
The Board at RSA indicated it would be "willing to recommend" the potential offer subject to other terms being met. Shares in RSA, which is run by former RBS boss Stephen Hester, were trading 4.5% higher by midday but remain firmly below the 550p mark at about 517p. Under City takeover rules, Zurich's bid needs to be completed by 22 September. The revised potential offer would enable RSA shareholders to retain the right to receive the 3.5p interim dividend announced by RSA on 6 August, it confirmed. Analysts said the offer could spark further bids. "We expect RSA's shares to ...
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