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Pru gives Esmee a windfall

Pru gives Esmee a windfall

The Prudential, the largest life insurer in the UK, has agreed to buy M&G, the country’s largest unit trust group.

The Prudential, the largest life insurer in the UK, has agreed to buy M&G, the country’s largest unit trust group. One of the beneficiaries of the £1.9b deal will be the Esmee Fairbairn Charitable Trust, which, with 33.3%, is M&G’s largest shareholder. Provided the sale is approved, the Trust will sell its entire holdings. Given that the Prudential is making a cash offer of £25 per share, which was 40% higher than the closing share price the day before the deal was announced, it looks likely that the Trust will enjoy a considerable windfall.

Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world's first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp.

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