An attempt by GE Capital to gatecrash a £1bn takeover of Equitable Life has failed.
The offer would have seen the 400-strong sales force staying with the business for six months.
But the board at Equitable Life has dismissed GE’s proposal as too little, too late. GE’s offer of £1.5bn includes a £400m loan, to be paid back from policy-holder funds.
The Daily Telegraph 09/02/01 page 33, page 35 (City Comment)
Financial Times 09/02/01 page 22
The Guardian 09/02/01 page 25
The Times 09/02/01 page 28
The Independent 09/02/01 page 19
