Clive Cowdery's new £660m investment vehicle Resolution Limited has targeted Prudential's UK insurance business as its first potential acquisition, according to a weekend report.
The Sunday Telegraph said Cowdery had sounded out Pru executives over a possible deal, one of a number of recent approaches made by Resolution.
Prudential is believed to be keen to negotiate a sale of the UK business, the paper said, although Pru believes any buyer would have to pay a large premium to the current implied stock market valuation.
Resolution's other potential targets are understood to include Clerical Medical and Friends Provident.
Prudential shares are up 5.7% to 301.25 on the speculation.IFAonline
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