Standard Life has pulled out of the bidding war to buy Resolution. The decision leaves the door ...
Standard Life has pulled out of the bidding war to buy Resolution. The decision leaves the door open for rival Pearl to buy the Scottish life insurer. Shares in Standard Life soared 8% in early morning trading. Standard Life's cash-and-shares bid for Resolution had weakened in the market sell-off last week, leaving it trailing an all-cash counteroffer from competing suitor Pearl. By Friday, when Standard Life stock touched its lowest levels since August 2006, its offer was worth just over 691p per Resolution share. Resolution is now due to hold talks with Pearl. Its board is widely ...
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