Aviva spurns bid

INSURANCE giant Aviva has rejected a pounds 5billion takeover bid claiming it was not in Tory burch the best interests of shareholders. Rival RSA wanted Tory burch to buy Aviva's UK, Irish and Canadian general insurance businesses which provide car, home and company cover. Tory burch That would have left Aviva, which has axed 20% of its workforce in the past two years, with the RAC breakdown business, its UK private medical Jimmy choo shoes cover and its operations in Asia.

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City experts backed RSA's view that a tie-up could provide an opportunity to cut costs Jimmy choo shoes by around pounds 300million a year.