UK Pension Manager Still In Takeover Talks with CVC

Law360, New York (December 19, 2011, 5:52 PM EST) -- Phoenix Group Holdings, Britain’s largest manager of closed life insurance funds, confirmed Monday that it is in discussions about a potential takeover with private equity firm CVC Capital Partners LP.

Phoenix’s board “is continuing to consider whether CVC’s approach may form the basis of an offer that is appropriate to recommend to Phoenix’s shareholders, although there can be no certainty that any approach will lead to an offer being made,” the company said.

Phoenix was responding for the second time in three weeks to swirling media...
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