The Hugh Osmond led Pearl Group is almost certain to acquire Resolution after Standard Life yesterday gave notice to terminate its offer.
Standard Life decided not to increase or restructure its bid in any way, saying it “does not expect its offer to be implemented”. “A revised offer would not create sufficient value for Standard Life shareholders at a level that is likely to be successful,” the statement reads. Resolution today announced it continues to engage with Pearl Group, which has upped its stake in Resolution to 25.93%, regarding its 720p per share cash offer and will make a further statement in due course. To comment on this story, contact: Hysni Kaso Reporter 0207 034 2681 [email protected] IFAonline
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