British insurer Resolution has rejected a second, higher bid from rival Pearl valuing it at £4.7bn. ...
British insurer Resolution has rejected a second, higher bid from rival Pearl valuing it at £4.7bn. "Resolution notes the statement from Pearl announcing an offer for Resolution of 691 pence per Resolution share," it said in a statement. "The Board of Resolution believes that the offer significantly undervalues Resolution and its prospects as part of Friends Financial Group and therefore has rejected it." Pearl had made a previous approach at 660p per share. That was also rejected.
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
