Resolution recommends £4.98bn Pearl offer

Under the terms of the deal, Pearl subsidiary Impala will acquire entire issued and to be issued Resolution share capital, valued at approximately £4.98bn. In a joint statement to the stock exchange, the pair noted the offer represents “excellent value for Resolution shareholders”. Pearl remains Resolution’s largest shareholder, with an approximate 25.93% stake. As announced on 19 October, Royal London will have the right to acquire certain Resolution business and assets. Pearl chief Hugh Osmond says Resolution and its management team have built an “outstanding business” and created sig...