Aviva plc (LSE:AV.) urged shareholders to reject Litani’s mini-tender as undervalued by about 17.5% and potentially harmful, while the High Court found Litani’s outreach not unlawful but criticized its lack of clear ID and ownership disclosure, prompting continued FCA monitoring.
Previous Week Recap
- Aviva Urges Shareholders Reject Mini-Tender: Aviva (AV.) urged shareholders to reject Litani’s mini-tender, saying the offer was about 17.5% below market and could benefit the bidder at shareholders’ expense.
- High Court: Outreach Not Unlawful: High Court: Litani’s outreach to Aviva plc shareholders wasn’t unlawful but lacked clear ID and ownership disclosure. FCA will keep monitoring communications to Aviva investors.
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