The Hugh Osmond led Pearl Group is having "difficulty understanding" why Resolution has not recommended its cash offer to shareholders.
Pearl released a statement this afternoon welcoming Resolution’s decision to withdraw its recommendation for Standard Life’s offer of 517p plus 0.715 shares per Resolution share. But it says its 720p full cash offer is “higher in value and considerably more certain” than the originally recommended Standard Life offer. "Pearl urges Resolution to cease switching recommendations between a series of complex mergers, none of which it believes have strategic or commercial logic, and instead to recommend Pearl’s increased all cash offer of 720p,” Pearl chief Osmond says. Pearl says Standard ...
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