NN Group reconfirms intention to take over Delta Lloyd
NN Group, a Dutch insurance and asset management company, has said that it still wishes to make a public offer for all issued and outstanding ordinary shares of its rival, Delta Lloyd.
NN Group had previously made an all-cash offer at €2.4 billion, a premium of approximately 53 percent over the last three-months average closing price of the stock at that time.
The Delta Lloyd supervisory and executive boards had then rejected NN Group's takeover proposal, as the company believed the financial terms and conditions were not satisfactory.
However, NN Group remains of the view that a combination of Delta Lloyd and the Dutch and Belgian activities of NN Group is financially and strategically compelling, as well as beneficial to both companies' stakeholder groups.
NN Group continues to seek engagement on the intended offer with Delta Lloyd and will continue its discussions with relevant stakeholder groups.
Meanwhile, NN Group and its affiliates or brokers may from time to time directly or indirectly purchase, or arrange to purchase, ordinary shares in the capital of Delta Lloyd, that are the subject of the intended offer, according to the press release.
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze