F&C to vote 'no' on Pru deal as opposition intensifies

F&C intends to vote against Prudential's proposed acquisition of AIA amid increased investor opposition to the deal.

The group, which owns just under 0.7% of the insurer, says it has made the decision independently of the action group set up by Neptune's Robin Geffen, which has secured 20% of shareholders to vote against the transaction. Shareholders owning 25% of the company are needed to block the deal. This morning the insurer has said it is in discussions with AIG over altering the terms of its controversial £24.5bn takeover. However, as the deal stands, F&C says it has concerns about the cost of the deal and Pru's ability to deliver the promised synergies and savings. "We are not concerne...