After nearly a month of negotiations, Sun Life & Provincial Holdings says that no progress had been reached on buyout terms with its majority shareholder, AXA.
Following the acquisition of Guardian Royal Exchange, AXA’s share in SLPH was reduced to 56.3 percent, and the share price has fallen. AXA expressed interest last March in acquiring the remaining shares, but the price and the terms were to be negotiated between AXA and the independent Directors of SLPH.
These talks are apparently at an impasse for the time being. AXA has indicated that it will make a new proposal soon.
Topics AXA XL
Was this article valuable?
Here are more articles you may enjoy.
Hedge Fund Money Is Reshaping a 180-Year-Old Insurance Model 
Four Georgia Troopers Fired in Vehicle Pursuit-Insurance Scheme 
Chubb Q1 Net Income Increases 74% on Fewer Catastrophe Losses 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
