Thursday, August 11, 2005
Skandia/Old Mutual
Deutsche Bank and Merrill Lynch to underwrite share placing to finance Old Mutual bid
Proprietary Intelligence
Story:Deutsche Bank and Merrill Lynch are said to have agreed to underwrite a share placing to finance part of the cash consideration of Old Mutual�s potential bid for Skandia, it is understood.
The placing will finance part of the cash consideration of the bid which will be structured as a cash and share offer, it is understood. People tracking the situation have mooted SEK 43 per share as Old Mutual�s likely bid price.
A source close to Old Mutual and a spokesperson for the South African group both declined to comment.
Old Mutual is said to be in the final stages of talks, though a number of issues still need to be resolved, it is understood. It was also pointed out, however, that, at this point in time, there was no certainty that Old Mutual would ultimately launch a formal bid. "
Proprietary Intelligence
Story:Deutsche Bank and Merrill Lynch are said to have agreed to underwrite a share placing to finance part of the cash consideration of Old Mutual�s potential bid for Skandia, it is understood.
The placing will finance part of the cash consideration of the bid which will be structured as a cash and share offer, it is understood. People tracking the situation have mooted SEK 43 per share as Old Mutual�s likely bid price.
A source close to Old Mutual and a spokesperson for the South African group both declined to comment.
Old Mutual is said to be in the final stages of talks, though a number of issues still need to be resolved, it is understood. It was also pointed out, however, that, at this point in time, there was no certainty that Old Mutual would ultimately launch a formal bid. "
