Pearl's £4.98bn acquisition of Resolution is now in the hands of the FSA after the Hugh Osmond-led group submitted its revised change of control application to the regulator.
As previously announced, the FSA has up to three months to consider any revised change of control application, meaning the acquisition is unlikely to become effective before the end of April.
“Assuming that the FSA gives the necessary approval, subject to the sanction of the scheme by the court and the satisfaction, or where relevant, waiver of the other conditions, the acquisition is expected to be effective approximately two weeks after the date of the FSA approval, subject to the availability of court dates for the necessary hearings,” the statement to the stock exchange reads.
The group's say the delay will not affect the terms of the 720p per Resolution share deal.
Resolution says it intends to make its preliminary 2007 results announcement on 29 April, in accordance with regulatory requirements.
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