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Evening Standard
Evening Standard
Holly Williams

Direct Line shares surge after insurer rejects £3.3bn Aviva takeover tilt

Direct Line Aviva Peel Hunt
Insurer Direct Line Group has announced lower-than-expected half-year profits (Alamy/PA) -

Insurer Direct Line has seen shares soar after being thrust into the takeover spotlight once again following a £3.3 billion approach from rival Aviva.

The firm saw its stock surge more than 39% in morning trading on Thursday following Aviva’s announcement after the market closed on Wednesday that it had put forward a possible cash-and-shares bid – worth 250p a share – to buy Direct Line last week.

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