FRANKFURT, Jan 29 (Reuters) - German insurer Allianz ALVG.DE is in informal talks about the potential acquisition of Australian peer QBE Insurance (QBE) , German newspaper Handelsblatt reported on Sunday, citing sources.
Allianz Chief Executive Oliver Baete met with QBE's Chief Executive John Neal before Christmas and has suggested an offer of 15 Australian dollars ($11.30) per share, which would value the company at A$20 billion, the paper said.
Talks between the groups were friendly but there were no concrete negotiations about a deal yet, the paper said.
Allianz and representatives for QBE Insurance in Europe could not immediately be reached for comment. ($1 = 1.3270 Australian dollars)
News: QBE Allianz eyes Australia's QBE Insurance -Handelsblatt
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Last
$21.39 |
Change
-2.060(8.78%) |
Mkt cap ! $32.29B | |||
| Open | High | Low | Value | Volume |
| $23.17 | $23.24 | $21.34 | $152.5M | 6.973M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9526 | $21.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.48 | 16420 | 3 |
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| QBE (ASX) Chart |