April 17, 2008 / 5:46 AM / 9 years ago

UK approves Pearl takeover of Resolution

LONDON, April 17 (Reuters) - Britain's Financial Services Authority has approved the planned takeover of life insurer Resolution RSL.L by unlisted rival Pearl and mutual Royal London, the firms said late on Wednesday.

The deal, agreed last November but postponed at least three times, is expected to become effective on May 1.

Pearl had submitted revised paperwork to the regulator last month, paving the way for the acquisition to be sealed. (Reporting by Clara Ferreira-Marques; Editing by Paul Bolding)

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