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UK Insurer Direct Line Rejects Ageas’ Raised Buyout Proposal *Centurion Insurance AFS*
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British home and motor insurer Direct Line said on Wednesday it had rejected a higher buyout proposal from Belgium-based rival Ageas, saying it “significantly undervalued” the company.
Direct Line said in a statement it had received the revised offer on March 9, under the terms of which shareholders would get 120 pence in cash and one new Ageas share for every 28.41107 Direct Line share held.
(Reporting by Eva Mathews in Bengaluru; editing by Shinjini Ganguli)
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