30th Aug 2005 07:02
Old Mutual PLC30 August 2005 NOT FOR DISTRIBUTION OR PUBLICATION IN OR INTO THE UNITED STATES Discussions with Skandia Old Mutual plc notes the recent press speculation concerning a possible offerfor Skandia. Old Mutual confirms that it has held discussions with Skandia and anumber of Skandia's major shareholders during the course of the past weekconcerning a possible offer at a price of approximately SEK42 per sharecomprising 40 per cent. in cash and 60 per cent. in Old Mutual shares andbelieves after discussions with these large shareholders that a majority of themwould welcome such a proposal. Old Mutual is keen to secure a recommendationfrom the Board of Skandia and is considering selected modifications to theproposal to address issues raised by the Board of Skandia. A further announcement will be made as soon as possible. This press release does not constitute a public offer for shares or otherfinancial instruments under the Swedish takeover rules or otherwise. These materials are not an offer to purchase or sell securities in the UnitedStates 29 August 2005 ENQUIRIES: Old Mutual plcInvestor Relations - Andrew Parkins +44 (0) 20 7002 7264Media Relations - Miranda Bellord +44 (0) 20 7002 7133 College HillAlex Sandberg +44 (0) 20 7457 2020 / +44 (0) 7831 851 844 (Mob)Tony Friend +44 (0) 20 7457 2020 / +44 (0) 7798 864 995 (Mob) For further details about Old Mutual plc visit www.oldmutual.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Old Mutual PLC