Skandia results, appointments continue battle

More than 92% of OM shares were cast in favour of the bid, and OM subsequently announced it was extending the offer period to mid-December. Skandia today has reiterated its stance suggesting its own shareholders will do better by rejecting the bid and remaining owners of an independent company. Revenues were up 16% on the same quarterly period last year, although expenses were significantly up by 12%, mainly as the result of “structural costs” linked to responding to OM’s bid. Stripping out the bid costs would mean expenses increased by 7% over the period, Skandia says. The nine-mo...