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Friends Life has suspended its share buyback after the insurer on Friday agreed to a £5.6bn takeover by larger rival Aviva. The £317m stock repurchase programme, which only started on 31 October after the completion of Friends Life's disposal of Lombard, has already resulted in over 9m shares being
Read moreBritish insurance provider Aviva has opened negotiations to buy sector peers Friends Life for £5.6bn. The deal, which would be the biggest of its kind in the insurance sector since the merger of CGU and Norwich Union created Aviva over a decade ago, could revolutionise the UK pensions industry. Acc
Read moreAberdeen: UBS lowers target price from 465p to 450p and downgrades from buy to neutral. ASOS: Societe Generale reduces target price from 5000p to 4450p, while leaving its buy recommendation unchanged. BG Group: Deutsche Bank reduces target price from 1400p to 1300p and keeps a buy recommendation.
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Although a reduction in individual annuities hit margins, Friend Life Group enjoyed rising assets under management (AUM) as its generated increased new business from its UK corporate pensions and protection businesses. Friend Life, the renamed Resolution, enjoyed 3% growth in sales volumes to £690m
Read moreAmec: UBS raises target price from 1100p to 1215p upgrading from neutral to buy. Aquarius Platinum: Citi lowers target price from 26p to 22p maintaining a neutral rating. Arrow Global: Panmure Gordon ups target price from 335p to 360p and keeps a buy recommendation. Barr (AG): Numis ups target pri
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