As two more firms announce their plans to merge at the start of November this year, Sam Barrett reviews what appears to be a perfect pairing, while recalling a recent merger that failed to ignite.
Increased regulatory requirements and tougher market conditions are driving consolidation in the financial services market, with several big names in protection having announced their intentions to merge this year. The largest proposed merger so far is that of Friends Provident and Resolution, which would create a company, Friends Financial Group, worth between £8bn and £8.5bn, placing it in the top 40 companies in the FTSE 100 by size. "The two companies are very complementary," says Simon Clamp, managing director of UK sales and marketing at Friends Provident. "While Resolution has fi...
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