US investment firm Litani is targeting investors through a “mini-tender” offer, seeking to buy Aviva shares at £5.30 each - significantly below Aviva’s closing price of £6.55 as of Monday (July 13).

Litani has contacted around 100,000 Aviva investors about the offer, which does not require approval from the Financial Conduct Authority (FCA) under UK regulations.

The FTSE 100 insurer said in a letter to shareholders: "Aviva has taken legal steps to try to prevent Litani........

© Eastern Daily Press