Resolution and Friends Prov merger has 'significant risks' - Pearl

The Hugh Osmond led company believes the merger would not value for shareholders, compared to other options. It says the amalgamation would “expose them to the significant risks of integration and of the synergies promised not being realised”. It was widely tipped Pearl, which has built up over a 16% stake in Resolution, will make a bid for the company perhaps as early as next week – a claim rebuffed by the group in a statement today. “There can be no certainty that Pearl will make an offer for Resolution or as to price or timing of any such offer,” Pearl said. “Pearl considers the curr...