Resolution has snubbed a £4.5bn approach from rival Pearl Assurance. Pearl's 660p-a-share propos...
Resolution has snubbed a £4.5bn approach from rival Pearl Assurance. Pearl's 660p-a-share proposal attempted to gatecrash an £8.5bn merger between Resolution - the UK's biggest manager of closed life insurance funds - and life and pensions specialist Friends Provident. Resolution said Pearl's indicative offer "significantly undervalued" the business and its prospects. Resolution is set to merge with Friends Provident, subject to a vote by Resolution shareholders early next month.
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
