Pearl has launched a late fightback to assume control of Resolution, tabling a 720p per share offer.
The new bid, which values Resolution at about £4.94bn, is approximately 11.4p per share higher than the Standard Life offer recommended by the Resolution board earlier today, Pearl says. Under the terms of the deal, Resolution shareholders would be entitled to retain the 9.17p interim dividend. In addition, Pearl announced it has acquired a further stake in Resolution, and now owns approximately 24.18% of the company. "This is a great outcome for Resolution shareholders and offers a great future for policyholders,” Pearl says in a statement. We look forward to engaging with the board of...
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