British bank OLD MUTUAL has lodged a takeover bid for Swedish insurance company SKANDIA of 43.60 Swedish crowns (SEK) a share, valuing the company at 44.9 bn SEK. OLD MUTUAL is offering 1650 SEK cash and 137 new OLD MUTUAL shares per 100 SKANDIA shares. If the bid is successful, the merged unit will be worth 108.7 bn SEK.