Standard Life rejects Resolution offer - papers 19th April

According to the paper, the life assurer is understood to have recently received an all-share merger proposal from Resolution. The mutual has also received an approach from another unidentified party seeking to acquire a significant stake, as well as tentative overtures from other unnamed suitors. The approaches were revealed in demutualisation documents sent out to the mutual’s 2.4m members, which said Standard Life could have a market capitalisation of £4.8bn to £5.5bn based on a price range of 240p-290p had the shares traded last week. Sandy Crombie, chief executive, said the overt...