17th Sep 2015 06:26
LONDON (Alliance News) - Phoenix Group Holdings on Thursday confirmed a press report that it has entered into talks to acquire rival Guardian Financial Services.
The FTSE 250-listed closed life funds consolidator said it has been evaluating a bid for Guardian as part of its strategy to run the rule over the potential acquisition opportunities in its markets, as flagged in its interim results in August.
It said it is holding non-exclusive talks about a bid for Guardian, confirming a report in Sky News which said was talking to Guardian's private equity owner, Cinven, about a bid. The Sky report said the deal would be worth around GBP1 billion.
By Sam Unsted; [email protected]; @SamUAtAlliance
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