U.K. Mutual bids to acquire stock insurer

Howard, Lisa S.
August 1998
National Underwriter / Life & Health Financial Services;8/31/98, Vol. 102 Issue 35, p32
Reports on the cash bid of British mutual Friends' Provident for London & Manchester (L&M), a publicly listed insurer. Value of the takeover bid; Reactions of industry analysts; Overstatement of the mutuals' capital paucity; Aspects of the deal that would create the largest fourth mutual.


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