Aviva announced today it has received the requisite 90% of acceptances from RAC shareholders...
Aviva announced today it has received the requisite 90% of acceptances from RAC shareholders to guarantee the deal will go through.
The insurer will now invoke section 429 of the Companies Act 1985 to compulsorily acquire the remaining 10% of RAC shares.
The company has also made applications to the UK Listing Authority for cancellation of the listing of RAC Shares on the Official List and to the London Stock Exchange for the cancellation of the trading of RAC shares.
Aviva said it expected the cancellations to take effect on 22 June.