Friends, Resolution alter voting terms for merger
Article Abstract:
UK life insurance firms Resolution PLC and Friends Provident PLC have changed the legal structure of their merger, valued at $17.44 bil, which would make it more difficult for Resolution shareholder Pearl Assurance PLC to block it without offering a cash bid. Resolution and Friends Provident lowered the percentage of Resolution shareholder approval but upped that of Friends Provident. Pearl holds 16% of derivatives and shares in Resolution.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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HBOS, as appetite for debt wanes, aids banking affiliate
Article Abstract:
The fourth-largest UK bank, HBOS PLC, announced it will cover the asset-backed commercial paper that has been issued via its Grampian affiliate, a rare move by a bank. The dwindling market for short-term debt is due primarily to the problems surfacing from US subprime mortgages.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
User Contributions:
Comment about this article or add new information about this topic:
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