Life Insurance Company admit takeover interest

Fri, 21 Sep 2007

Standard Life, the Edinburgh based life insurance company, are understood to be considering lodging a takeover bid for one of their rival groups, Resolution. The bid would seriously damage plans by Resolution to join up with another rival, Friends Provident .

According to financial analysts, a takeover by Standard Life would swell their insurance funds to a level exceeding 200 billion pounds. This would make Standard Life the second largest insurance company behind Aviva, the owner of Norwich Union .

Standard Life are expected to offer a combination bid of both cash and shares, and may dispose of some assets, although it is unclear the exact nature that the bid would take. The deal is complicated by Pearl, the major shareholder in Resolution.
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