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RAC backs £1.1bn takeover

Motoring business RAC was today set to become part of insurer Norwich Union after backing a £1.1 billion takeover that could threaten up to 1,700 jobs.
Norwich Union owner Aviva said the proposed tie-up with RAC would create a 'powerful new force' in the UK insurance and motoring services industry.

However, the deal will come at a cost to the combined UK workforce of 24,000, which Aviva said it planned to reduce by 1,700 through the removal of dual roles and the use of administrative offices overseas.

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