Resolution's Clive Cowdery and his arch-rival Hugh Osmond are expected to meet today as Resolution challenged Mr Osmond to declare his intentions after he amassed a 16.5 per cent interest in the closed life fund specialist, The Financial Times reports.
The two men have been trying to arrange the meeting since Mr Osmond disclosed his interest in Resolution, threatening to derail its planned £8.3bn merger with Friends Provident and leaving open the possibility of a hostile bid for Resolution. Mr Cowdery, chairman of Resolution, has written to Mr Osmond calling for him to explain his alternative proposals for Resolution, including the possibility of a cash offer. The move has left both sides in conflict over the agenda for today's meeting. THE CREDIT CRUNCH claimed its first high-profile victim in the property sector yesterday when a...
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