Resolution Talks Axa Take Over

Published / Last Updated on 13/06/2010

Resolution, owners of UK life insurer Friends Provident may be about to enter talks with Axa about a possible takeover of Axa's UK business.

The between Resolution and Axa could amount to £2.75bn and Resolution's shares have been suspended today, at the request of Resolution themselves, as details of the deal become clear.

Resolution said it would pay £2.75bn, funded by a £2bn rights issue.

Merging Axa UK and Friends Provident would create huge economies of scale, cost savings and greater stability for both businesses in the UK.

At this stage though, the Axa Resolution deal is just an offer. This may or may even get of the discussion table.

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