October 7, 2016 / 6:11 AM / a year ago

Delta Lloyd rejects NN Group's 5.30 euro per share offer

AMSTERDAM, Oct 7 (Reuters) - Dutch insurer Delta Lloyd on Friday rejected a 5.30 per share takeover offer from larger rival NN Group that would have valued it at 2.4 billion euros ($2.7 billion).

Delta Lloyd said NN’s offer was opportunistic and too low given than Delta Lloyd had just stabilised its solvency and was beginning a turnaround.

NN launched its unsolicited bid on Wednesday saying that Delta Lloyd’s boards had declined to meet to discuss an agreed offer. ($1 = 0.8991 euros) (Reporting by Toby Sterling; editing by David Clarke)

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