RSA receives £7.1bn takeover bid from Intact Financial and Tryg

Written by Adam Cadle

05/11/2020

RSA Insurance Group has received a £7.1bn takeover bid from Canada’s Intact Financial and Danish insurer Tryg, in what could be the biggest acquisition of a UK-listed company this year.

The British firm received a proposal from Intact and Tryg about a potential cash bid of 685 pence per share, it said in a statement Thursday.

If a deal goes through, Toronto-based Intact would keep RSA’s Canadian business as well as its UK and international division, according to the statement.

Tryg plans to keep RSA’s operations in Sweden and Norway, while RSA’s Denmark business would be jointly owned by the two firms.

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