Resolution has ditched Friends Provident in favour of Standard Life. The life insurer has recomm...
Resolution has ditched Friends Provident in favour of Standard Life. The life insurer has recommended its shareholders accept Standard’s last minute bid of of 517 pence in cash and 0.715 Standard Life shares for each Resolution share. The Resolution board said the offer represents an attractive balance for its shareholders. As a result, the life insurer has withdrawn its recommendation of a merger with Friends Provident.
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