Canada Life shareholders have been offered £16.67 per share as Manulife Financial launches a £2.7bn ...
Canada Life shareholders have been offered £16.67 per share as Manulife Financial launches a £2.7bn bid to acquire its Canadian rival. Alternatively, they can receive 1.055 Manulife shares for each Canada Life share they own. Some 60,000 Canada Life shareholders were created in the UK and Ireland when the group demutualised back in 1999. The £16.67 offer represents a 30% premium to the group's listed price. The offer period closes on 28 February.
More than £3bn transferred
Available to 80,000 employers
Covered call option strategy
Impact on markets
Cunningham Coates wealth manager