Cash counts in merger mania
Article Abstract:
A planned merger between CGU and Norwich Union will create a company called CGNU, which could rank fourth in the European insurance market. The chairman of the new company will be Pehr Gyllenhammer. Norwich Union saw a drop in its stock price after the deal was announced, and this could be related to the all paper offer. There is also speculation of another possible bidder such as Axa or Aegon, from mainland Europe. The merger would bring a number of strategic benefits such as cost savings, and 73% of the profits of the new company would come from the life insurance market, which is more robust than the market for general insurance.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 2000
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Is life Equitable with Halifax
Article Abstract:
Halifax may acquire Equitable Life, and the impact of such a move is examined in detail.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 2001
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NatWest welcomes L and G buy as 'turning point.'
Article Abstract:
National Westminster has made a bid for Legal and General. The NatWest brand will be used to sell Legal and General products, a decision questioned by analysts. There is also concern that the price, at 10.8 billion pounds sterling, could be excessive. NatWest has seen a drop in its stock price, while the Legal and General stock price rose prior to the announcement of acquisition talks. A counterbid could materialize and a number of companies could be interested, such as Allianz and Aegon.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
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