Clive Cowdery's Resolution is rumoured to be in talks with Lloyds Banking Group to buy Clerical Medical for up to £4bn, according to industry observers.
The discussions are said to be at an early stage, following Cowdery's recent acquisition of Friends Provident for almost £2bn, The Mail on Sunday reports. While Cowdery declined to discuss negotiations, saying he is in talks with "several parties," Lloyds, which acquired Clerical Medical with its controversial take over from HBOS, refused to comment. Cowdery says no deal is imminent, as Resolution is "concentrating on our acquisition of Friends Provident and integrating the business, which will take up to three months". However, he has made it well known he plans to buy at least tw...
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