RSA Insurance climbs 4.5 percent to lead gainers on the FTSE 100 in heavy volume amid fresh talk it could be the subject of a takeover bid, traders say.
Italy-based Generali, Swiss-listed Zurich Financial and UK peer Aviva are all touted as potential bidders in a deal that could total 7 billion pounds ($11.35 billion), traders say. Previous suggested suitors include Australian insurance group QBE and Germany’s Allianz.
A report in the Daily Express newspaper flags talk of “overseas interest” and cites Zurich and Generali, while the Daily Mail mentions Aviva.
When contacted by Reuters, Generali denied the rumours, Zurich and RSA both declined to comment, while Aviva could not immediately be reached for comment.
Demand to trade the stock remains strong, however, and at 1333 GMT, RSA has traded more than three times its average 90-day daily amount, against 48 percent for the broader FTSE 100.
($1 = 0.6168 British pounds)
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