Resolution chief Clive Cowdery says only a "compelling offer" from one of its rivals would distract the company from completing its merger with Friends Provident.
In a statement to the stock exchange just minutes ago, Resolution welcomed today’s Takeover Panel ruling, which ordered Pearl and Standard Life to make a firm offer by 5pm on 25 October or walk away. "There is clear and substantial value in Friends Financial and our focus is entirely on completing the merger,” Cowdery says. “We will not be distracted from this unless a very compelling offer is made for Resolution." Resolution also hailed Friday’s UK Office of Fair Trading’s decision not to refer the Friends Financial merger to the Competition Commission. To comment on this story, conta...
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