Halifax Is Latest Company To Seek Equitable

February 2, 2001

The U.K.’s Halifax, primarily a mortgage bank, confirmed that it was the latest entry to make a proposal to Britain’s troubled Equitable Life, and was in talks to acquire the insurer’s fund management business, sales force and administrative facilities, but said it was not interested in assuming Equitable’s long-term liabilities.

Following Aegon’s withdrawal and the failure to reach agreement with Australia’s AMP, Halifax is currently the only company which has come forward to try and make a deal with Equitable.

London’s Financial Times commented that, “It is getting to the stage when Equitable should drop the conditions and take whatever deal it can get because it is running out of buyers.”|”halifax, latest, company, seek, equitable

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