Resolution Mulls $4B Purchase Of British AXA Outfits

Law360, New York (June 14, 2010, 7:24 PM EDT) -- Resolution Ltd. is in talks to acquire the majority of French insurer AXA SA’s businesses in the U.K. in a deal potentially worth $4 billion.

Resolution confirmed Monday it was considering picking up AXA’s operations in the risk areas of protection and annuities and also the group pensions unit, and merging them with Resolution's Friends Provident operations, which it purchased in 2009.

The deal is expected to be primarily funded by a $3 billion pre-emptive rights issue. The company also intends to raise $738 million through...
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