Standard Life is pulling out all the stops in its bid to snatch Resolution from the rival Pearl Group.
The insurer is thought to be talking to partner Swiss Re about obtaining a larger stake in Resolution, or even a slice of Standard Life in a revised offer. Reports also suggest Standard Life is considering upping its bid to 750p per share and changing the structure of the takeover, to allow for just 50% Resolution shareholder backing. These scenarios would trump the Hugh Osmond led Pearl. It has tabled a 720p per share offer and has increased its stake in Resolution to 24.18%, close to the 25% currently required to thwart any rival bids. The Resolution board has not yet announced which o...
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