Phoenix Group Holdings, the U.K.’s biggest manager of closed life-insurance funds, plans to raise 250 million pounds ($394 million) in a share sale to lower its debt burden. The shares surged.
Swiss Re Ltd. and Phoenix Group Holdings said talks about a merger of the world’s second biggest reinsurer’s Admin Re unit with the U.K.’s largest manager of life insurance funds have ended.
Swiss Re Ltd., the world’s second- biggest reinsurer, said it’s in preliminary talks about combining its Admin Re business with Phoenix Group Holdings.
The following is a list of companies whose shares may have unusual price changes in U.K. and Irish markets. Stock symbols are in parentheses and prices are from the last market close.
Resolution Ltd., the financial- services buyout firm founded by Clive Cowdery, said talks about a possible acquisition of Phoenix Group Holdings Plc have terminated.
Phoenix Group Holdings Ltd. , the U.K.’s biggest manager of closed life-insurance funds, may refinance its 2.7 billion pound ($3.75 billion) debt to fund acquisitions, the Mail on Sunday reported.