Morley/ Pearl to discuss Resolution merger options

This afternoon, shareholder Morley, which owns 4.6% of Resolution, announced it was willing to discuss alternatives with Pearl Assurance which upped its stake in the insurer to 12.74%. Pearl says it was originally interested in Resolution because it “represented a sound financial investment”. But it says the decline in Resolution’s share price since the merger announcement has led it to believe the merger would not maximise shareholder value. Pearl says it wants to discuss the proposal with the Resolution board and learn its rationale for the transaction while exploring alternative oppor...