Standard Life says may restructure Resolution offer
LONDON, Oct 28 (Reuters) - UK insurer Standard Life (SL.L: Quote, Profile, Research, Stock Buzz), whose 4.9 billion pound ($10.1 billion) bid for Resolution RSL.L has been challenged by another rival, may change the structure of its offer to win its target, it said on Sunday.
Standard Life said it was exploring, jointly with Resolution, "a number of options for restructuring its proposed offer." The options include proceeding by way of a takeover rather than a scheme of arrangement, it said in a statement.
Standard Life, backed by Swiss Re (RUKN.VX: Quote, Profile, Research, Stock Buzz), announced its cash-and-share offer on Friday, which Resolution's board agreed to, but it was trumped less than an hour later by an all-cash approach from rival Pearl.
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