Shares in British insurer Aviva have soared following rumors of three potential buyers: Allianz, Legal & General Group and Phoenix.
Shares in British company Aviva soared on Friday following rumors that the insurance company was attracting buyer interest, according to The Times magazine.
Shares in the insurance company, one of the UK’s largest, rose 10.5%, suggesting there are at least three potential foreign bidders to buy the business.
Among the companies cited are the German Allianz, the Canadian Intact Financial Corp and the Scandinavian group Tryg.
We also know that one of them proposed a value of 6 pounds per share, without knowing exactly what.
The news also affected the shares of the insurance company’s main competitors: Prudential, Legal & General Group and Phoenix rose by 3.18%, 4.85% and 2.77%, respectively.
The rumors began on Wednesday, when Betaville, a mergers and acquisitions news site, revealed that Aviva had a potential buyer, although it was not yet clear who the interested parties were.
Last month, Aviva bought AIG’s UK life insurance business for £460 million, in the biggest acquisition to date by its CEO, Amanda Blanc.
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