Allianz, Dresdner shares fall

Shares in Allianz and Dresdner Bank both fell yesterday amid fears that the German insurer was overpaying with its #23.4 billion (£18.4 billion) offer for the country's third-largest bank. Under the agreed takeover, Allianz is offering one share plus #200 for every 10 Dresdner shares. That values Dresdner at #53.13 a share.