Andrew Regan's AIM-listed investment vehicle Corvus Capital has confirmed it is evaluating Royal & SunAlliance (R&SA) as a bid target.

The company stressed, however, that considerations are at an early stage and there is no guarantee an offer will be forthcoming.

Rumours of the proposed takeover appeared in the weekend press.

The company said it would not comment on speculation.

Corvus said it was looking to buy “a sizeable company with a proven stable and strong cash-generating business or businesses.”

The company said it was assessing several potential investments, including R&SA.

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