Zurich tipped as suitor

Shares in insurance group RSA rose yesterday amid speculation that rival group Zurich had bid for the firm, the Daily Mail reports.

RSA shares closed at 143.50p yesterday, up 2.5% on Wednesday's closing price of 140p. The Mail said the market was responing to talk of a possible £6.6bn, or 190p-a-share bid from Zurich.

The Independent also attributed the boost in RSA's stock price to bid speculation, but described the talk as vague.

RSA has been the subject of much takeover speculation in recent months following its failed £5.5bn bid to buy rival insurer Aviva's general insurance business.

More recently, market rumours in late January this year suggested the tables had turned and Aviva was looking to buy RSA.

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