Ageas Confirms Improved Possible Offer For Direct Line Insurance - Quick Facts

(RTTNews) - Ageas confirmed that it has submitted an improved possible offer to the Board of Direct Line to acquire the entire issued and to be issued share capital of Direct Line. Under the terms of improved possible offer, Direct Line shareholders would receive: 120 pence in cash for each Direct Line share; and one newly issued Ageas share for every 28.41107 Direct Line shares. The improved possible offer has an implied value of 239 pence per Direct Line share. The possible offer values the entire issued and to be issued ordinary share capital of Direct Line at approximately 3.17 billion pounds.

Ageas said it continues to seek engagement from the Direct Line Board ahead of the deadline of 27 March 2024 under the Code, in order to work collaboratively towards a recommended firm offer.