Standard Life and Swiss Re are reportedly closing in on a 750p a share joint offer for Resolution.
It is believed the Takeover Panel may force the pair to make an announcement to the stock exchange as soon as today.
Standard Life is thought to be targeting Resolution's new business, distribution and asset management divisions while Swiss Re would acquire the closed-life funds.
The joint move comes just a week after the Hugh Osmond led Pearl Group tabled a 660p per share offer for Resolution, which was instantly rejected by executive chairman Clive Cowdery and the board.
Pearl then revealed it had agreed a deal with Royal London to acquire some of the company’s assets, should a bid be successful.
Resolution shareholders are due to vote on the proposed £8bn merger with Friends Provident on 5 November.
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