RSA Insurance Group PLC - general insurance company headquartered in London - Says Intact Financial Corp gets unconditional approval for its takeover of RSA by the Canadian regulators. Majority of RSA shareholders voted to approve takeover scheme on Monday. The deal is expected to complete in the second quarter of 2021.
In mid-November, RSA Insurance had agreed to be sold in a deal with a two-headed consortium which valued the insurer at GBP7.2 billion.
The deal will see the insurer divided between Canada's Intact and Scandinavian insurer Tryg AS.
Under the deal, RSA shareholders will receive 685 pence in cash for each share. In addition, RSA shareholders will be entitled to receive the insurer's interim dividend of 8p.
Current stock price: 677.20 pence
Year-to-date change: flat
By Paul McGowan; paulmcgowan@alliancenews.com
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