Standard Life and Swiss Re, the Zurich-based reinsurance company, have confirmed their interest in Resolution, the UK closed life funds investor. The companies are expected to make a joint offer by the end of this week and Standard Life’s board has issued a statement saying that it “believes there are attractive potential synergies to be [...]
Resolution and Friends Provident are moving closer to their £8.4 billion merger, having set November the 5th as the date for emergency shareholder meetings to approve the deal. The Takeover Panel will now be able to impose a deadline for counter-bidders, Pearl Group and Standard Life, to make an offer. Analysts expect Pearl, which is [...]
Resolution, the closed life fund consolidator, has confirmed plans to proceed with a merger with life insurer, Friends Provident. An extraordinary general meeting, at which shareholders will vote on the proposal, will take place in late October. Final details of the agreement are expected to be confirmed in November. Pearl Group (a competitor and major [...]
Standard Life is reported to be reviving its interest in making a bid for Resolution, the specialist manager of in-force UK life funds. It is rumoured that Standard Life’s chairman has recently held several informal meetings with his counterpart at Resolution and analysts predict that any bid by Standard Life would exceed £4.5 billion. Pearl [...]
Resolution Plc, the specialist manager of in-force UK life funds, has recorded a strong rise in interim profit. The insurer, which is in the process of merging with Friends Provident, recorded operating profit for the six months to the end of June at £395 million (on a European Embedded Value basis). The result compares with [...]
