Royal London is pursuing a takeover of LV= in a deal that would create a "mutual champion" with nearly 10 million customers across the UK, according to Sky News - a report LV= addressed on Monday morning.
Sky News city editor Mark Kleinman said he understands LV='s board met last week to discuss the progress of a strategic review that began in June. The news outlet reported a decision about a deal with Royal London could potentially be reached within days. The broadcaster suggested the two parties are not in exclusive discussions, and Bain Capital, the private equity backer of motor insurer esure, is also said to be keen on acquiring LV=. LV= in a statement on Monday morning said: "The Board of Liverpool Victoria Financial Services Limited ("LV=") notes the recent press speculation and...
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