Aviva (AV.L) has announced agreed details of its proposed takeover of Friends Life in an all share deal. The deal proposed would give Friends Life shareholders ownership of around a quarter of the enlarged group with each shareholder of Friends Life being given 0.74 shares in Aviva for each share they hold.
Commenting on the Proposed Acquisition, John McFarlane, Chairman of Aviva, said: “Aviva’s recent success and sound growth and return prospects already present a compelling investment proposition and enable us to advance our strategy through acquisition as well as organic growth. The Proposed Acquisition not only consolidates Aviva’s leading position which Aviva has established in the UK, it is expected to enable a much stronger dividend flow and balance sheet position than would otherwise have been possible. It also offers Friends Life Shareholders an attractive outcome.
This move enhances, and is consistent with, our investment proposition of “cash flow plus growth”, and I commend it to shareholders.”
Aviva (AV.L) has announced agreed details of its proposed takeover of Friends Life in an all share deal. The deal proposed would give Friends Life shareholders ownership of around a quarter of the enlarged group with each shareholder of Friends Life being given 0.74 shares in Aviva for each share they hold.
Commenting on the Proposed Acquisition, John McFarlane, Chairman of Aviva, said: “Aviva’s recent success and sound growth and return prospects already present a compelling investment proposition and enable us to advance our strategy through acquisition as well as organic growth.
The Proposed Acquisition not only consolidates Aviva’s leading position which Aviva has established in the UK, it is expected to enable a much stronger dividend flow and balance sheet position than would otherwise have been possible. It also offers Friends Life Shareholders an attractive outcome.
This move enhances, and is consistent with, our investment proposition of “cash flow plus growth”, and I commend it to shareholders.”