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Gianluca Colla | Bloomberg | Getty Images

British insurer RSA received a 550 pence all-cash takeover proposal from rival Zurich Insurance on Tuesday, valuing the firm at 5.6 billion pounds ($ 8.82 billion) and paving the way for one of Europe’s largest insurance deals.

Zurich said last month it was weighing a possible offer for RSA, which would make the Swiss firm the leader in British commercial insurance, help it expand into Canada, Latin America and the lucrativ……….. continues on CNBC.

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