Shares of British insurer Prudential Plc jumped as much as 8 percent on Thursday after news surfaced that as much as 20 percent of the company’s shareholders would oppose its $35.5 billion proposed acquisition of AIA, American International Group’s Asian business.
According to a Bloomberg report on Thursday, some shareholders, specifically Neptune Investment Management, oppose the deal as undervaluing Prudential’s existing businesses.
The deal would consummate with a 75 percent shareholder approval.
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