L&G prepares Resolution approach defence doc - papers

clock

Legal & General has prepared a defence document to ward off an unwanted takeover approach from Clive Cowdery's Resolution vehicle.

Advisers to the insurance group, including Nomura and UBS, are thought to have worked on the document as speculation continues to swirl about which insurance company is next on Mr Cowdery's list of targets, the Telegraph writes. Resolution raised £600m from investors when it floated on the London Stock Exchange last year. The company was set up to consolidate the life insurance industry and agreed to buy Friends Provident for £1.86bn in an all-share purchase in August. Resolution is thought to be eyeing a move for Clerical Medical or Scottish Widows next, both owned by the part-nation...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Low number of FTSE 100 female CEOs 'just not good enough' - Andrea Montague

Low number of FTSE 100 female CEOs 'just not good enough' - Andrea Montague

Senior leadership in financial services is attainable for women

Jenna Brown
clock 23 April 2025 • 3 min read
IFAs must show empathy not judgement during tough client life events

IFAs must show empathy not judgement during tough client life events

Financial implications of life events and what women need to consider

Jenna Brown
clock 23 April 2025 • 4 min read
HL co-founder Peter Hargreaves to rejoin board after £5.4bn takeover

HL co-founder Peter Hargreaves to rejoin board after £5.4bn takeover

Co-founded platform in 1981

Linus Uhlig
clock 22 April 2025 • 1 min read