(Reuters) - LONDON, July 23 - British life insurers Resolution and Friends Provident confirmed on Monday that they are in advanced merger discussions that could lead to the creation of a group worth over 8 billion pounds .
If agreed, the merger would involve an all-share combination, with Resolution shareholders owning 50.9 percent of the combined group and Friends Provident shareholders owning 49.1 percent, the two sides said. "Friends Provident and Resolution believe that a merger would create significant value for both sets of shareholders by combining Friends Provident's new business growth opportunities with Resolution's strong cash flow generation," the two sides said in a statement.
Read more at Reuters.com Mergers News
If agreed, the merger would involve an all-share combination, with Resolution shareholders owning 50.9 percent of the combined group and Friends Provident shareholders owning 49.1 percent, the two sides said. "Friends Provident and Resolution believe that a merger would create significant value for both sets of shareholders by combining Friends Provident's new business growth opportunities with Resolution's strong cash flow generation," the two sides said in a statement.
Read more at Reuters.com Mergers News
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