Bain Capital takeover loses crucial LV= member vote

clock • 2 min read
Bain Capital takeover loses crucial LV= member vote

The membership vote to sell mutual insurer LV= to Bain Capital has failed after too few members voted in favour of the deal at the Special General Meeting. While 69% of the 174,240 members present at the SGM voted in favour of the deal with the private equity firm, it fell below the 75% threshold required for the deal to pass. "Although 69% of voting members supported the Board's recommendation and voted in favour of the transaction with Bain Capital, the Board is disappointed not to have...

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