Pru rejects Aviva offer - papers 20th March

According to The Daily Telegraph, Aviva has confirmed details of its £17bn proposed offer for Prudential and said it would not be willing to make a hostile offer for the group. However, Prudential has already rejected the indicative approach and told Aviva, owner of Norwich Union, it is not prepared to enter talks. Aviva said today’s statement, outlining the prospective offer, “enables both Prudential and Aviva’s shareholders to assess the proposal on an informed basis”. It is proposing an all-share merger of the two groups with 82 new Aviva shares issued for every 100 Prudential shar...