Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a653023

Phoenix rejects takeover bids for Ignis

by Emma Dunkley on Jan 23, 2013 at 13:59

Phoenix rejects takeover bids for Ignis

Life assurance firm Phoenix Group has rejected a raft of takeover bids for Ignis said to be in the region of £400 million, according to reports.

According to Sky News, the bids were made at the end of last year with the news broadcaster claiming Aberdeen Asset Management was one of the interested parties.

The news comes after Ignis chief executive Chris Samuel recently outlined an ambitious strategy for the firm in an exclusive interview with Wealth Manager. His plans included product development, hires and entering new business arenas such as the liability driven investment space, the latter of which builds on its life assurance roots.

Samuel has also ended the joint fund management ventures the group had in place in order to focus on core business, while new hires have been tasked with streamlining the firm’s product range.

Ignis merged with axial Investment Management in 2009 to appear in its current form.

Its parent group Phoenix has also been in discussions in the past with Resolution and CVC Capital Partners, with regards to the firms potentially buying Phoenix, although the talks did not amount to a takeover.

Phoenix Group declined to comment.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Investing for income in a changing environment


With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop

More about this:

Look up the shares

  • Phoenix Group Holdings
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Ignis AS
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Aberdeen Asset Management PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Resolution Ltd
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

What others are saying

Archive

On the road

Click here to find out more from the Audience Development team.

Read more...

Ashcourt Rowan boosts team with triple hire

by Robert St George on Jul 24, 2014 at 10:59

Sorry, this link is not
quite ready yet