Stan Life could change Resolution offer to foil Pearl

In a statement to the stock exchange this morning, Standard Life hinted it is looking at ways around the need to obtain 75% of Resolution shareholder backing. Standard Life says along with Resolution, it is investigating a number of options for restructuring its proposed offer of 517p plus 0.715 shares per Resolution share. “These options include, but are not limited to, proceeding by way of a takeover offer rather than a scheme of arrangement,” the statement reads. Resolution has withdrawn its recommendation for the proposed takeover, saying it “does not believe that the offer from the...