Friends Prov and Resolution in £8.3bn merger talks

In a joint statement, the firms revealed “a merger would create significant value for both sets of shareholders by combining Friends Provident's new business growth opportunities with Resolution’s strong cash flow generation”. If agreed, the merger would involve an all-share combination of the two; with Resolution shareholders owning 50.9% and Friends Provident shareholders 49.1%. The merger would extend to products, customers, distribution, financial profile and management. “The potential synergies arising from a possible merger will reflect the already highly efficient nature of ...