Standard Life shares boosted by bid withdrawal

Standard Life shares staged a relief rally today on news of its withdrawal from the bidding battle for closed life insurance firm Resolution.

Standard Life shares boosted by bid withdrawal
Mon, 12 Nov, 2007 - 12:55

Standard Life shares staged a relief rally today on news of its withdrawal from the bidding battle for closed life insurance firm Resolution.

Shares in the group raced 9% ahead after it yesterday admitted defeat in its attempt to takeover so-called “zombie” fund specialist Resolution for £4.7bn (€6.6bn).

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CourtsBusinessHeathrowPlace: EdinburghPlace: UKPerson: Barrie CornesPerson: CornesOrganisation: Standard LifeOrganisation: ResolutionOrganisation: PearlOrganisation: Panmure GordonOrganisation: StandardOrganisation: AbbeyOrganisation: Swiss ReOrganisation: Friends ProvidentOrganisation: Resolution Life GroupOrganisation: Britannic GroupOrganisation: Abbey NationalOrganisation: Swiss LifeOrganisation: Royal & Sun Alliance
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