Aviva chief executive Amanda Blanc has commended the Daily Mail for its reporting on an investment firm's attempts to acquire shares from the insurer's private investors at significantly reduced prices. The Daily Mail highlighted that investment firm Litani had approached approximately 100,000 of Aviva's smaller shareholders, offering to buy their shares for £5.30 each. This offer is substantially lower than the stock's closing price of £7.26 on the day prior to the report.
Blanc stated that many of the shareholders targeted by Litani were elderly individuals. However, she also indicated that only a limited number of these investors had so far agreed to sell their shares. Aviva has previously advised its retail investors not to accept Litani's offer.
Former pensions minister Baroness Altmann has previously criticized Litani's offer, characterizing it as "a cynical attempt to exploit the vulnerable shareholders." The campaign group ShareSoc has also cautioned Aviva investors against accepting the offer, warning them not to fall into a "trap."