Aviva agrees to possible $8.8 billion deal to buy Friends Life

Reuters

Fri, Nov 21, 2014, 1:09 PM

(Reuters) - Insurer Aviva Plc (AV.L) said it had reached agreement on a possible deal to buy Friends Life Group Plc (FLG.L) for 5.6 billion pounds ($8.8 billion) in stock.

Under the terms of the possible offer, Aviva would offer Friends Life shareholders 0.74 shares for each Friends Life share.

The deal indicates a value of about 398.9 pence per Friends Life share, a 15 percent premium to the stock's Friday close.

Friends Life shareholders would also receive an amount in cash equal to any Friends Life final dividend for the 2014 financial year.

(Reporting by Roshni Menon in Bangalore; Editing by Saumyadeb Chakrabarty)

California McDonald's Franchise Owner Says, 'The Focus Is On Survival' With 'Unprecedented' $20 Per Hour Minimum Wage Forcing Higher Prices
In response to California's new $20 minimum wage law, fast food franchises are being forced to rethink their business strategies to stay afloat. Scott Rodrick, who owns 18 McDonald's franchises in the state, is considering measures to manage the increased labor costs without resorting to layoffs, which he sees as a last resort. Don't Miss: 82% of Americans aren’t using this government secured 5% passive income stream, are you one of them? The average American couple has saved this much money for
Benzinga•14h ago
Sam Bankman-Fried Agrees to Help FTX Investors Go After Celeb Promoters
Sam Bankman-Fried has inked a settlement agreement with a group of FTX customers who have agreed to drop their class action lawsuit against him in exchange for his help going after celebrity promoters of the collapsed exchange.
CoinDesk•15h ago
Exclusive-China acquired recently banned Nvidia chips in Super Micro, Dell servers, tenders show
A Reuters review of hundreds of tender documents shows 10 Chinese entities acquired advanced Nvidia chips embedded in server products made by Super Micro Computer Inc., Dell Technologies Inc. and Taiwan's Gigabyte Technology Co Ltd after the U.S. on Nov. 17 expanded the embargo to subject more chips and countries to licensing rules. Specifically, the servers contained some of Nvidia's most advanced chips, according to the previously unreported tenders fulfilled between Nov. 20 and Feb. 28.
Reuters•3h ago
Former House Speaker Nancy Pelosi Can't Stop Buying the 1 Artificial Intelligence (AI) Stock Billionaires Have Been Eager to Sell
Though this highflying stock is making Nancy Pelosi and her venture capitalist husband richer, more than a half-dozen billionaires have sent it to the chopping block.
Motley Fool•22h ago
Apple stock will soar 36% as it gears up to launch an AI-enable iPhone, BofA says
Bank of America said Apple could announce a 5% dividend increase and $90 billion share buyback program when it releases earnings next week.
Business Insider•8h ago
Analyst revises Google parent Alphabet's stock price target before earnings
Here's what could happen next to Alphabet's shares.
TheStreet•7h ago
Traders are betting that TSMC stock's sudden 13% sell-off will deepen
The world's biggest chipmaker, which is a bellwether for the global semi producers, recently trimmed its industry-growth outlook.
Business Insider•5h ago
Ford Stock Soared Today for 1 Big Reason and 3 Smaller Ones
Wall Street doesn’t get any credit for the move. There are no stock upgrades or price- target changes to cite.
Barrons.com•11h ago
Goldman says we're still in phase 1 of AI's stock-market takeover. Here's how they expect phases 2 through 4 to play out.
There are many more companies beyond Nvidia that will see their stocks soar on the promise of AI, Goldman says.
Business Insider•6h ago
If You'd Invested $250 in Berkshire Hathaway 5 Years Ago, Here's How Much You'd Have Today
Berkshire stock produced huge gains for decades. But what about the last five years?
Motley Fool•21h ago

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

Aviva agrees to possible $8.8 billion deal to buy Friends Life

Recommended Stories

California McDonald's Franchise Owner Says, 'The Focus Is On Survival' With 'Unprecedented' $20 Per Hour Minimum Wage Forcing Higher Prices

Sam Bankman-Fried Agrees to Help FTX Investors Go After Celeb Promoters

Exclusive-China acquired recently banned Nvidia chips in Super Micro, Dell servers, tenders show

Former House Speaker Nancy Pelosi Can't Stop Buying the 1 Artificial Intelligence (AI) Stock Billionaires Have Been Eager to Sell

Apple stock will soar 36% as it gears up to launch an AI-enable iPhone, BofA says

Analyst revises Google parent Alphabet's stock price target before earnings

Traders are betting that TSMC stock's sudden 13% sell-off will deepen

Ford Stock Soared Today for 1 Big Reason and 3 Smaller Ones

Goldman says we're still in phase 1 of AI's stock-market takeover. Here's how they expect phases 2 through 4 to play out.

If You'd Invested $250 in Berkshire Hathaway 5 Years Ago, Here's How Much You'd Have Today