By Pablo Mayo Cerqueiro and Amy-Jo Crowley
LONDON (Reuters) – Belgian insurer Ageas is pressing on with a potential takeover offer for Britain’s Direct Line, bringing in a new adviser to assist with the efforts, three sources familiar with the matter told Reuters.
Ageas has lined up Deutsche Bank to work alongside its existing financial adviser Bank of America, two of the sources said. It interviewed banks for additional support since making its offer public last week, the third one added.
Ageas might sweeten the terms of its initial bid to win over Direct Line’s leadership, two of the sources said.
Ageas declined to comment, and has until March 27 to launch a formal offer or walk away under UK takeover rules. Deutsche Bank and Direct Line declined to comment.
(Reporting by Pablo Mayo Cerqueiro and Amy-Jo Crowley. Additional reporting by Andres Gonzalez; Editing by Anousha Sakoui)
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