Reported 11 days ago
Goldman Sachs has shifted its position to advise Aviva Plc on a £3.3 billion takeover bid for Direct Line Insurance Group, after previously helping Direct Line fend off a rival proposal. Despite Goldman’s involvement, Direct Line has labeled the offer as 'highly opportunistic' and is not engaging with Aviva. This move comes amid concerns over potential reputational damage for Goldman due to the conflicting roles it has taken in the ongoing M&A dynamics.
Source: YAHOO