RSA bids £584m for Codan shares
Royal & Sun Alliance has made a £584m offer to the remaining shareholders of Scandinavian insurer Codan in which it holds a 72% stake. However, reports have indicated some pension fund investors are unhappy at the price offered by RSA for the equity.
Announcing the offer to the London Stock Exchange today, the insurer, through its wholly-owned subsidiary RSA Overseas Holdings made a cash tender offer for all of the outstanding shares in Codan A/SOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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