Defence document drawn up in face of Resolution rumours
Legal & General has prepared a defence document to ward off an unwanted takeover approach from Clive Cowdery's Resolution, the Telegraph reports.
Advisers, including Nomura and UBS, are said to have worked on the document in the face pf rumours over which insurance company is next on Resolution’s list of targets.
One senior banker described the defence document as a "natural response" and said any company in L&G's position would draft one.
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