The Office of Fair Trading (OFT) has given the green light to the planned Pearl Group takeover of Resolution.
The OFT today announced it would not refer the upcoming acquisition to the Competition Commission, clearing the way for the 720p per share deal.
Royal London’s deal with Pearl to acquire £1.27bn of Resolution assets was also approved by the OFT.
The Hugh Osmond led Pearl Group won the battle to secure Resolution after trumping rival insurers Friends Provident and Standard Life.
Resolution chairman and founder Clive Cowdery last week announced he would liquidate his stock before the New Year.
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