NN Group launches 2.4 billion euro bid for Delta Lloyd



NN Group, the largest Dutch insurer by market capitalisation, on Wednesday launched an offer to buy the number 3 Delta Lloyd for 2.4 billion euros (2.1 billion pounds) in cash.
NN Group said it would offer 5.30 euros per share for Delta, a 29 percent premium over its closing price on Tuesday, and 53 percent higher than its three-month average.
NN has thrived due to strong capitalisation under Europe's new Solvency II rules, while Delta Lloyd swooned and twice it has been forced to issue shares. NN Group's bid is subject to approval from Delta's board, regulators and shareholders.
(Reporting... read more

 
5 October 2016 in Business, Views: 39
Source: Reuters
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