Symetra Financial (SYA) has reportedly joined Apollo Global (APO) to bid for the U.S. unit of...


Symetra Financial (SYA) has reportedly joined Apollo Global (APO) to bid for the U.S. unit of U.K. insurer Aviva (AV) and the companies could forge an agreement within days. However, Guggenheim Partners, which had joined Apollo in the bid, has dropped out. Any deal would come at a "substantial discount" to the subsidiary's book value, excluding debt, of £2.4B ($3.88B).
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