Skandia awaits next OM moves

The deal is now squeezed between the 23 January date – which is estimated to be the 90-day cutoff from the date OM approached the FSA for regulatory approval, which it requires – and the need to get as close as possible to the magic 90% acceptance figure. Without the latter, Skandia’s minority shareholders holding out against the bid will get some protection under Swedish rules, as previously pointed out by Skandia. Among other demands, the amalgam of small shareholders and Swedish pension funds holding back support for the deal have argued for three of eight Skandia board seats nomi...