RSA Insurance shares gain on takeover speculation
RSA Insurance [LON:RSA], a UK-based insurer, was the subject of takeover speculation on Thursday, 15 September, The Times reported. The newspaper’s market report section did not cite a source for the rumour and gave no further details of the speculation.
The Financial Times’ market report did not mention any takeover talk in connection with RSA but noted that the insurer’s share price reached its highest level in close to two years, closing 21.5p up on the day at 530.5p yesterday. The volume of RSA shares traded yesterday was double the average number, the item added.
Both reports noted that Zurich Insurance [VTX ZURN] walked away from a planned takeover bid for RSA in September last year.
RSA Insurance Group’s market capitalisation stood at GBP 5.40bn (EUR 6.35bn) at the close of trading in London on Thursday