Standard Life

Standard Life may change the structure of its Resolution takeover to thwart moves by Pearl, which now owns 24% of the target.

Standard Life's sales through channels other than IFAs rose to 41% in the third quarter up from 26% in 2006, according to the group's interim results.

Pearl has launched a late fightback to assume control of Resolution, tabling a 720p per share offer.

The Resolution board has unanimously recommended the Standard Life takeover offer, ending its proposed merger with Friends Provident.

Pearl has condemned Standard Life's offer for Resolution saying it does not offer ‘compelling value' for shareholders.

Resolution has requested a 24 hour extension on the 'put up or shut up' deadline for Standard Life and Pearl.

Resolution is mulling over a formal Standard Life offer of 517p and 0.715 SL shares for each Resolution share.

Standard Life and Swiss Re are reportedly set to launch a 730p to 740p per share bid for Resolution.

Standard Life has appointed Stephen Ingledew as distribution strategy director.

Resolution chief Clive Cowdery says only a "compelling offer" from one of its rivals would distract the company from completing its merger with Friends Provident.