FSA to probe Resolution takeover - papers 17 Dec

The regulator is suspicious about a series of information leaks into the market during the four month clash, and has concerns that some of the parties may have divulged market sensitive information to the press, before making formal announcements via the London Stock Exchange's regulatory News Service. The contest began in July when Resolution said it was merging with the ailing life assurer Friends Provident. Pearl and Standard Life put paid to the creation of "Friends Financial" – the proposed name for the merged company – when they made separate bids for Resolution. Although Standard Li...