# Pru gives Esmee a windfall

- Link: https://fundraising.co.uk/1999/03/12/pru-gives-esmee-windfall/
- Published: 1999-03-12T00:00:00+00:00
- Author: Howard Lake

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

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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.