Pru fights to salvage AIA deal

clock

Prudential has confirmed it is in discussions with AIG over altering the terms of its controversial £24.5bn proposed takeover of AIA.

While Pru revealed discussions with AIG continue, it says there is no certainty it will lead to a change of the takeover's terms. Pru has recognised it may need to change the terms of the current deal to overcome a shareholder rebellion and achieve the 75% approval necessary. Neptune founder Robin Geffen, who set up a working group in a bid to block the deal, said earlier this week about 20% of shareholders have already indicated they are likely to give a red light to the takeover. "We confirm that discussions regarding the current status of the transaction have taken place between...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on UK

UK businesses to pay four times more for electricity than in 2020
UK

UK businesses to pay four times more for electricity than in 2020

Calls for Covid-style support for energy bills

clock 25 August 2022 • 1 min read
UK

IA Global sector enjoys record £934m sales in April

Reduced UK outflows

Sam Shaw
clock 06 June 2019 • 2 min read
UK

Dan Kemp: What UK investors can learn from the Champions League

Set new goals

Dan Kemp
clock 31 May 2019 • 3 min read