At least one more company, thought to be the world's largest reinsurer, Swiss Re, is conducting due diligence on takeover target Resolution Group, The Telegraph reports.
It is understood that further requests to see paperwork already viewed by predators Pearl Group and Standard Life have been made under Rule 20.2 of the Takeover Panel code. Under the code, only “another offeror or bona fide potential offeror” can apply to see the documents. The revelations come as speculation mounted that the bid frenzy surrounding Resolution is about to gather pace, with the Takeover Panel rumoured to be issuing a “put up or shut up” deadline as early as today. It is thought Pearl and Standard Life will be given a deadline of October 26 to either make an offer or walk awa...
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