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UK: Aviva, Friends Life shareholders vote for merger

By  |  March 26, 2015

Shareholders of British insurers Aviva and Friends Life voted on Thursday in favor of Aviva’s 5.6 billion pound takeover of Friends Life.

Aviva’s share price wobbled after the terms of the merger were announced late last year, as some investors and analysts worried about the size of cost savings and the marrying of a range of IT systems.

But others said the merger made sense following UK government reforms that have put increasing pressure on pensions providers.

 

Full Content: The Telegraph

 

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