Resolution has withdrawn its recommendation of support for the takeover bid of 517p plus 0.715 Stand...
Resolution has withdrawn its recommendation of support for the takeover bid of 517p plus 0.715 Standard Life shares by Standard Life/Swiss Re. The life insurer's board said the fact that rival Pearl now holds approximately 24% of Resolution shares means the offer from Standard Life now needs the support of Pearl. Consequently the Board has "withdrawn its recommendation of the Standard Life/Swiss Re offer in its current form," it said in a statement this morning. Meanwhile, The Takeover Panel has criticised Standard Life for the announcements it made on Monday about its attempts to buy...
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