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25 March 2024Insurance

Ageas drops Direct Line takeover bid; can’t justify major sweetener

Belgian-French multinational insurer Ageas has dropped its would-be takeover bid for UK rival Direct Line, having met unrelenting opposition from Direct Line leadership and clear disappointment from minority shareholders.

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More on this story

Ageas said to strike unconvincing tone in Direct Line takeover bid

18 March 2024 The market’s minimum price may rub up against Ageas’ max capacity, one brokerage suggests.

Ageas eyes Direct Line in bid for European non-life, quickly rebuffed

29 February 2024 Shares closed less than half the gap to the bid, signaling low faith a deal can be cut.

Ageas reshuffles executive committee, creates reinsurance role

24 January 2024 It has created a new role: managing director reinsurance & investments.

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