Royal London on Monday confirmed it had held initial talks with mutual LV on a potential takeover after the latter’s members rejected a bid from private equity outfit Bain last year.
The company last December said it could offer members of the 179-year-old LV an “attractive future as part of a growing and well-capitalised mutual” after they rejected an offer from Bain which would have seen them receive a paltry £100 each.
LV on Monday said it had appointed Seamus Creedon as interim chair who said the company would continue discussions with Royal London “about if and how we can co-operate to the benefit of both sets of members and the mutual sector”.
