Resolution deal delayed by futher three weeks
Pearl's upcoming £4.98bn acquisition of Resolution has been delayed by a further three weeks to allow for extra FSA discussion time.
The hold-up will give Pearl additional time to finalise discussions with the FSA on the timing of capital distributions from the Resolution life companies. It says the deal is now expected to be effective in mid-March.
Pearl’s takeover was originally expected to be completed on 4 February, but a postponed scheme hearing last month delayed the deal by two weeks.
The acquisition delay will not affect the deal’s terms, which will remain at 720p per Resolution share.
To comment on this story, contact:
Hysni Kaso
Reporter
0207 034 2681
[email protected]
More news
Three things your clients may call you about this week …
What made financial headlines over the weekend?
Janus Henderson adjusts pricing approach on £2.8bn Property fund
To promote 'long-term investment'
'Broken platform market' exposed by data from the lang cat
Switching 'hard and expensive'
SJP directed to waive client's exit fees after 'catalogue of errors'
Ombudsman decision
How much does fund size matter?
Smaller funds still packing a punch
Most read
