Dutch insurer Delta Lloyd NV (DLL.AS) is planning to reject an unsolicited takeover offer from its larger rival NN Group NV (NN.AS), Bloomberg reported on Thursday, citing people familiar with the matter.
Delta Lloyd could announce the rejection of the 2.4 billion euros ($2.7 billion) offer on Friday, according to the report.
No final decision has been made and plans could still change, Bloomberg said.
Delta Lloyd and NN Group declined to comment.
NN Group said on Wednesday it was offering to pay 5.30 euros per Delta share, a 29 percent premium over the stock's closing price on Tuesday.
(Reporting by Ismail Shakil in Bengaluru; Editing by Shounak Dasgupta)