Resolution bidding war set to continue

Standard Life is expected to increase its £4.9bn bid for Resolution Group to at least £5.3bn, accord...

Standard Life is expected to increase its £4.9bn bid for Resolution Group to at least £5.3bn, according to a leading analyst. James Pearce, of Cazenove, said that he expects the Standard Life and its partner Swiss Re to raise its 709p cash-and-shares bid to 766p a share or even higher. He also believes that rival for Resolution Pearl Group will re-enter the fray with a 750p bid, which exceeds its previous 720p-a-share cash bid to 750p a share. "We expect both Standard Life and Pearl to raise their offers for Resolution," he wrote in a research note to clients. " "We believe the marke...