Old Mutual Mulls Pounds 3bn Hostile Bid for Skandia

Evening Standard - London › September 15, 2005

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Summary

THE City was today braced for its second hostile takeover bid in a month as FTSE 100 insurance giant Old Mutual said it was prepared to launch an aggressive Pounds 3.3 billion bid for Swedish savings giant Skandia.

In a statement that will do nothing to win hearts and minds in Scandinavia, the company said: "Old Mutual would not seek to withdraw the offer on the basis of the board of Skandia failing to make such a recommendation."

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Old Mutual Mulls Pounds 3bn Hostile Bid for Skandia

The declaration comes amid fever-pitch e...

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