Bain Capital takeover loses crucial LV= member vote

While 69% of the 174,240 members present at the SGM voted in favour of the deal with the private equity firm, it fell below the 75% threshold required for the deal to pass.  "Although 69% of voting members supported the Board's recommendation and voted in favour of the transaction with Bain Capital, the Board is disappointed not to have achieved the outcome that we believed was in the best interests of LV= and its members," said Alan Cook, chairman of LV=.   LV= said the controversial deal, first announced in late 2020, would present the most positive outcome for all members i...