Resolution has backed the takeover bid by rival insurer Pearl valuing it at 720p per share. The Re...
Resolution has backed the takeover bid by rival insurer Pearl valuing it at 720p per share. The Resolution board said it considers the terms of the acquisition to be fair, reasonable and excellent value for shareholders. The deal must now be accepted by Resolution shareholders who will vote at an EGM in January, with completion expecting in February 2008. At the time of the announcement Pearl owned 29.3% of shares in Resolution. The recommendation by the Resolution board looks to have brought to an end the long running bidding war for the group between Pearl, Standard Life and Friend...
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