Resolution deal delayed by futher three weeks

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.

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