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Evening Standard
Evening Standard
Henry Saker-Clark

Direct Line backs £3.6bn takeover move by rival Aviva

Direct Line Aviva
Direct Line Group has appointed a new boss (Alamy/PA) -

Direct Line has said it plans to back a takeover move by rival insurance firm Aviva.

The firms said they have reached an initial agreement over a cash-and-shares deal valuing Direct Line at £3.61 billion, or 275p per share.

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