The man from the Pru...may have cash for you
Article Abstract:
Prudential is bidding for Scottish Amicable and the mutual's policyholders will have to vote on the proposal. Not all Scottish Amicable policyholders are offered bonuses as a result of the acquisition, and there is an arbitrary element as to which policyholders benefit. Policyholders have to decide on how to vote, and the mutual aims to lose its mutual status even if this deal does not go through. They also have to decide whether to move their policies after the deal, though initially this does not appear necessary.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Worry over Pru posers
Article Abstract:
Prudential s the biggers life assurer in the United Kingdom, and saw a rise in the price of its stocks in Jun 1997, but this ended, a development seen as unjustified by brokers. Four brokers from a sample of six rate the company's stocks a buy, one rates them a hold, and one rates them a sell. The buyers are Lehman Brothers, Merrill Lynch, Credit Lyonnais Laing and Charterhouse Tilney. Both James Capel, the holder, and UBS, the seller, are concerned about the company's orphan assets.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Plum deal
Article Abstract:
Aegon will acquire Providian Corp for $3.5 billion and will become one of the ten biggest life insurers in the US. Aegon's share price rose by over 10% following news of this acquisition. Dutch financial services companies have been active in financial services consolidation in 1996. ABN-AMRO has invested in regional banking in Illinois, and ranks first among foreign banks in the US. ING may seek to acquire a US life insurer and an investment bank in the US.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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