9 February 2022
ROYAL LONDON CONFIRMS MERGER DISCUSSIONS WITH LV= HAVE CEASED
On 10th December 2021, Royal London issued a statement outlining our belief that we could offer an attractive future for the members of LV= as part of a growing and well-capitalised mutual. Discussions between Royal London and LV= on the potential for a mutual merger have ceased.
Barry O'Dwyer, Group Chief Executive of Royal London, said:
"Mutuals are owned by their customers and are run for their benefit.
"Our offer to preserve LV='s mutuality through a merger with Royal London was based on an understanding that LV= did not have a viable future as an independent company.
"For Royal London's customers and members, nothing changes. We remain committed to delivering great value products, backed up by market-leading customer service. We look forward to sharing a substantial level of profits with our eligible customers in April, as we normally do."
-------------------------------------
A sigh of relief no doubt for All Long term shareholders
Although , thus either means we have a war chest itching to be spent to avoid gains OR
Royal London is in financial disorder .
One hopes for the former
Outstanding 09/02/2022
No comments:
Post a Comment