Resolution withdraws backing of Standard Life takeover after Pearl ups offer

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RESOLUTION has withdrawn its recommendation of the £4.9bn takeover deal put forward by Standard Life after Pearl assurance increased its stake in the company and put forward a counter-offer.

Last week, Resolution pulled out of a merger with Friends Provident in favour of a deal which would see Standard Life pay 517p in cash and 0.715 Standard Life shares for each Resolution share. H...

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