RSA gets takeover proposal from INTACT and TRYG | Kalkine Media UK

  • November 06, 2020 12:01 PM GMT
  • Team Kalkine

RSA gets takeover proposal from INTACT and TRYG

RSA Insurance Group Plc (LON: RSA) has received a proposal from a consortium of two insurers, Intact Financial Corporation and Tryg A/S regarding a possible offer for the Company.

One of the oldest FTSE 100 constituents has received the offer comprising of 685 pence in cash per share, plus payment of an interim dividend of 8 pence per share announced earlier by it. The basis of the deal is that while the consortium will own RSA’s Denmark business, Intact will individually own the UK, Canada, and International operation.

And Tryg will own the Sweden and Norway operations of RSA if the deal is successful. RSA has posted an improvement in the operating profit for the first nine months with all three regions performing on or ahead of the company’s plans.

Arix Bioscience portfolio company to be acquired by Merck

Arix Bioscience Plc’s (LON: ARIX) portfolio company VelosBio Inc will be acquired by Merck for $2.75 billion in cash.

As per a definitive agreement entered by VelosBio Inc, Merck through its subsidiary will be acquiring all outstanding shares of the company.

Arix at estimated net proceeds of £142 million, is likely to receive a return of almost 12 times on its £12 million investment made in VelosBio Inc. VelosBio is a privately held, clinical-stage US biopharmaceutical company, developing a preclinical pipeline of next-generation antibody-drug conjugate and bispecific antibodies.

Bentley to go fully electric by 2030

In one of the most ambitious transition by any UK car manufacturers towards electric vehicles, Bentley has announced to stop making petrol cars by 2030.

The luxury carmaker under the VW Group vows to produce only plug-in hybrid and all-electric cars starting 2026,

The company’s plan known as “Beyond 100” is already underway and it is planning to put its entire lineup all-electric by 2030. Bentley’s transition is a part of its parent Volkswagen’s plan to be a leading producer and seller of electric, connected cars and is likely to make it financially resilient and recession-proof.

 


Disclaimer
The website https://kalkinemedia.com/uk is a service of Kalkine Media Ltd (Kalkine Media), Company Number 12643132. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.

 

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK