Windfall Hopes of 1.7m Dashed ; Royal London's Merger Offer Was a Good Deal ... But Not Quite Good

Summary

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The 1.7 million members of Royal Liver looking forward to merger windfalls were upset to hear last week that the insurer's directors rejected a tie-up with fellow mutual Royal London.

The two firms, who share five million customers, have been discussing a merger since April. The plans would effectively have seen Liver taken over by Royal London. But last Tuesday the board of Royal Liver called off talks without even formally putting the merger plan to the 220 elected delegates who run the friendly society.

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Extract

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Windfall Hopes of 1.7m Dashed ; Royal London's Merger Offer Was a Good Deal ... But Not Quite Good

Steven Burnett, chief executive of Royal Liver, says: 'We were keen to find a way forward that preserved mutuality fo...

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