Standard Life and Swiss Re are reportedly set to launch a 730p to 740p per share bid for Resolution.
The offer, which values the ‘zombie fund’ insurer at £5bn, is expected to come late this week to thwart a rival takeover plan by the Hugh Osmond led Pearl Group. Pearl made an unsuccessful 691p per share offer for Resolution on Friday and is expected to launch another counter bid shortly. The Takeover Panel deadline for Resolution offers is 5pm this Thursday, with the EGM to approve its proposed merger with Friends Provident scheduled for 5 November. To comment on this story, contact: Hysni Kaso Reporter 0207 034 2681 [email protected] IFAonline
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