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Aviva wraps up £3.7bn deal for Direct Line


By Michael Griffiths

Aviva has finalised its agreement to buy insurance rival Direct Line in a deal worth up to £3.7bn.

Under the terms of the deal, Direct Line shareholders will receive 0.29 new Aviva shares, 129.7p in cash and up to 5p in dividends per share


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Henry Boot acquires Stonebridge Homes for £30m

Henry Boot has acquired the 50% share in Stonebridge Homes that it does not own for £30m, with the firm now set to own 100% of the housebuilder

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SFO charges five men over law firm collapse

The Serious Fraud Office (SFO) has charged five men following the collapse of the law firm, Axiom Ince, and alleged improper use of £60m in client money

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Serco presents ‘strongest’ opportunities in a decade

Analysts have described Serco’s latest trading statement as the "strongest" business opportunities presented by the firm in a decade, as its underlying profit jumped by 25% in its second half

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Hollywood Bowl revenues rises despite Puttstars impairment

Revenue at Hollywood Bowl has increased by 7.1% to £230.4m in the year to 30 September, despite the group incurring a £5m impairment on its Puttstars mini-golf operations

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IP Group life sciences companies receive cash offers

IP Group has announced that two quoted companies on its life sciences portfolio have received cash offers, with the group set to receive £13.8m

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Company insolvencies jump in November

There were a total 1,966 company insolvencies across England and Wales during November, according to the latest figures published by the Insolvency Service

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Kenmare Resources appoints new CFO

James McCullough has been appointed as the new chief financial officer (CFO) at Kenmare Resources

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Shoe Zone halves profit expectations as it looks to close stores

Shoe Zone has lowered its profit before tax expectations for the current financial year from £10m to £5m, amid "challenging trading conditions" as it plans to close stores

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Airways Pension Scheme agrees £340m longevity swap with MetLife

The trustees of the Airways Pension Scheme have agreed a £340m longevity swap with Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, and Zurich Assurance Ltd

Tortoise Media signs deal to acquire The Observer

Tortoise Media has signed a deal to acquire The Observer from the Guardian Media Group (GMG) and The Scott Trust
Kingfisher sells off Romanian business in £58m deal

DIY and home improvement retailer Kingfisher has announced the sale of its Brico Dépôt Romania business in a deal worth £58m
FD Technologies to return £120m to shareholders via tender offer

FD Technologies has proposed a tender offer to return up to £120m to shareholders, following the disposal of its first derivative business to EPAM Systems, Inc.


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