Dutch insurer Delta Lloyd buy canada goose jacket cheap rejects NN Group takeover bid
AMSTERDAM (Reuters) Dutch insurer Delta Canada Goose Parka Lloyd on Friday rejected an unsolicited 2.4 billion euro (2.17 billion pounds) Canada Goose Online takeover bid from larger rival NN Group as being too low but said mergers between Dutch canada goose clearance insurers could make sense.
capital position is now solid with the opportunity to canada goose deals improve further capital generation cheap Canada Goose and dividends, 2018 canada goose outlet Delta Lloyd CEO Hans van der Noordaa Canada Goose Jackets said in a statement. light of this, we cannot accept this proposal.
He said the bid was only 64 percent of Delta Lloyd book value as of Canada Goose Outlet June 30 and the premium offered was market norms for cash transactions buy canada goose jacket of this type and for companies canada goose clearance sale at our stage of Canada Goose online recovery
NN launched canada goose replica its 5.30 euros a share bid on Wednesday saying that Delta Lloyd boards had declined to meet to discuss an agreed Canada Goose sale offer.
Delta Lloyd shares, which closed at canada goose store 4.12 euros before NN bid was announced, ended at 5.26 euros per share on Thursday.
Investors and Dutch regulators have said they expect canada goose the Dutch insurance industry to consolidate, and Delta Lloyd statement on Friday did not dismiss the possibility of a merger out of hand.
Potential benefits include cost savings from combining operations, lower spending on technology and product development, and benefits of scale and financing, it canada goose clearance said.
Lloyd shareholders are in a position canada goose outlet store locations to benefit from the value of these synergies through a number of possible combinations, the company said.
It said NN Group proposal failed to apportion an adequate share of the canada goose coats value of a merger for Delta Lloyd shareholders.
While many investors and canada goose coats on sale analysts have said NN bid looked too low, several thought NN would eventually acquire Delta.
hope (management) will fight to get the highest canada goose outlet toronto factory possible officialcanadagoosesoutlet price, canadian goose jacket said one investor.
Delta Lloyd shares have lost more than 60 percent of their value over the past two years, most of canada goose black friday sale it in the summer of 2015, as its low Solvency II deficiency became clear. It restored the ratio to 173 percent by issuing shares and selling assets.
NN Group, by contrast, was spun out of ING Group with a strong solvency ratio of 252 percent according to its last report. Its stock Canada Goose Coats On Sale is up more than 15 percent in the same period.