Friends Provident has once again entered discussions with Resolution Limited after receiving a "sufficiently improved" bid from the Clive Cowdery-led acquisition vehicle.
Resolution has proposed an exchange ratio of 0.9 new Resolution shares for each Friends share. The deal also includes a partial cash alternative, subject to the maximum cash available not exceeding £500m....
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.