Standard Life to reveal bid plan

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The Independent Online

Standard Life is expected to abandon plans to enter the bidding for closed-life rival Resolution If it fails this week to find a partner to buy the company. It has been nearly a month since Standard Life first revealed it was mulling "the possibility of a cash-and-shares offer for Resolution". Talk of it joining forces with Pearl ended last week when the group tabled a joint offer with Royal London of 660p a share, which was swiftly rebuffed by Resolution. If Standard Life is to team up with a partner, Swiss Re is thought to be the most likely candidate.