Royal London has offered to reopen negotiations with LV= on a mutual merger after members of the latter voted down a takeover from private equity firm last Friday (10 December).
LV= said in a statement given to Professional Adviser that it had received an unsolicited preliminary merger proposal from Royal London. "The proposal, which is on a substantively different structure to the offer received during the process in 2020, now includes the possibility of continued mutuality and is conditional on exclusive discussions," the mutual said. As for Royal London, it moved to reassure both its own members, as well as LV='s, that a potential deal would be favourable for all. It told LV= members that the terms of a potential merger would offer LV= members the chance t...
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