Resolution GBP2.75B Plan To Buy AXA's UK Life Ops "Sensible"
14th Jun 2010 12:38
By Vladimir Guevarra Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Resolution Ltd.'s (RSL.LN) management is starting to meet with shareholders this week to gain further support for its planned GBP2.75 billion purchase of AXA SA's (CS.FR) U.K. life insurance operations, a deal generally welcomed
Read moreResolution confirms Axa talks
14th Jun 2010 07:10
Life insurer Resolution suspended its shares this morning as it confirmed it is in discussions to buy AXA's UK life assurance businesses for £2.75bn. The businesses to be acquired are AXA's UK protection and annuities arms and also its group pensions business. Resolution will raise £2bn from a pre
Read moreAIG's Largest Private Shareholder Remains Optimistic On Stock
11th Jun 2010 16:06
By Erik Holm and Serena Ng NEW YORK (Dow Jones)--Bruce Berkowitz, the investor whose fund is the largest private shareholder in American International Group Inc. (AIG), would be happy to buy more of the rescued company's stock, especially if it's AIG that sells it to him. Some stock pickers
Read morePrudential chief out in the cold
11th Jun 2010 08:08
The odds on Prudential boss Tidjane Thiam being fired have shortened after it emerged that none of the insurer's leading shareholders have wanted to talk to him this week. Institutions are instead sitting down with chairman Harvey McGrath and senior independent director James Ross to discuss their
Read morePrudential CEO Frozen Out Of Shareholder Talks - Report
11th Jun 2010 07:19
DOW JONES NEWSWIRES U.K. insurer Prudential PLC's (PRU.LN) leading institutional shareholders have frozen Chief Executive Officer Tidjane Thiam out of crunch talks to debate his own future, The Times reports on its website Friday. Without citing sources, the report says it emerged Thursday
Read moreFriday newspaper round-up: BP, Prudential, Brit Insurance
11th Jun 2010 06:43
A new calculation of the amount of oil spilled into the Gulf of Mexico from the fractured BP oil rig have dramatically increased the estimate, suggesting an amount equivalent to the Exxon Valdez disaster could be pouring into the ocean every eight to 10 days. The fresh estimate from a US government
Read morePrudential Chairman To Meet Investors Over CEO's Post-Sources
9th Jun 2010 14:01
By Jessica Hodgson and Vladimir Guevarra Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Prudential PLC (PRU.LN), which last week failed in its $35.5 billion bid to acquire the Asian unit of American International Group Inc (AIG), will be meeting some of its key shareholders in the next few days
Read morePrudential chiefs prepare to face institutions
9th Jun 2010 12:03
Prudential chairman Harvey McGrath did an admirable job defending Tidjane Thiam at this week's lively AGM, but the under-fire CEO will find it difficult to dodge the dagger-wielding institutions due to pitch up at his Paddington HQ in the weeks ahead. It's reported that Fidelity, Legal & General In
Read moreMARKET TALK: UBS Initiates Coverage Of Prudential At Buy
9th Jun 2010 07:23
0623 GMT [Dow Jones] UBS initiates coverage of Prudential (PRU.LN) with a buy rating and 641p price target. Says the valuation is attractive relative to Asian peers. Also points to the group's strong operational record and the likelihood it will recover from the current depressed sentiment in the wa
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
9th Jun 2010 07:23
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0623 GMT [Dow Jones] UBS initiates coverage of Prudential (PRU.LN) with a buy rating and 641p price target. Says the valuatio
Read moreWednesday newspaper round-up: BP, Bank Tax, Prudential
9th Jun 2010 06:34
A further £4bn was wiped off BP's market value yesterday after President Obama mounted his strongest attack yet on the company's management, fuelling speculation that Carl-Henric Svanberg, BP's chairman, could be sacrificed in the wake of the Gulf of Mexico oil spill. Shares in BP sank a further 5%
Read moreUK Insurer Prudential PLC Lowers Stake In Arkema - AMF
8th Jun 2010 15:27
PARIS (Dow Jones)--U.K. insurer Prudential PLC (PRU.LN) has sold shares in French chemicals specialist Arkema (AKE.FR) on the market and lowered its voting rights beneath the 5% threshold, the French stock market regulator Autorite des Marches Financiers said in a filing Tuesday. Prudential PLC
Read moreLondon afternoon Markets in full-scale retreat
25th May 2010 14:35
Shares are in full-scale retreat around the World with the Dow over 250 points lower soon after the opening bell. London is lower by a similar amount in percentage terms, as concerns over a possible bail-out of Spain and growing military tensions between North and South Korea. Moves by Spanish reg
Read moreLondon midday: Prices bottom out
25th May 2010 12:02
The FTSE 100 dived below the 5,000 level in the first few minutes of trading and at one point in the morning session dipped briefly below 4,900 but prices have now stabilised. Though it is scant consolation, London is not alone in shifting violently into reverse gear, as increasing fears about a p
Read morePru has tricky Hong Kong debut
25th May 2010 10:12
Shares in UK insurer Prudential took a tumble on their first day's trading in Hong Kong speculation grew over the future of the chief executive of AIA, its takeover target. The FT reported this morning that Mark Wilson, AIA's chief executive, has told friends he will leave if the Pru's $35.5bn take
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