Editor's comment: Cat among the pigeons
News of RSA's bid for the UK, Irish and Canadian general insurance businesses of Aviva has certainly thrown the cat among the pigeons. Over the weekend there was considerable speculation about who had leaked the story and the motive for doing so. Was Aviva trying to flush out more bidders with larger offers? Was RSA annoyed that Aviva's shareholders had not been consulted?
As things stand — regardless of the somewhat bemusing fact it took Aviva 10 days to reject the bid out of hand (why so long?) — it would appear that RSA is going to fail with this initial offer.
On
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