RSA Insurance shares are soaring on news that Zurich Insurance is mulling a takeover.
The stock is up over 14% today so far.
Zurich said it “notes the recent market speculation in relation to RSA Insurance Group PLC and confirms that the company is evaluating a potential offer.”
RSA has a market cap of £4.4 billion but the bid may come in over £5 billion, commentators have said.
Here’s the huge jump this morning: