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Mounting fears over LV= takeover amid claims rivals aim to split up mutual
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Fresh concerns have been raised over the future of mutual insurance firm LV= after it emerged that bidders could break-up the historic company after a takeover.
The 178-year-old firm, originally known as Liverpool Victoria, is being sold to US private equity firm Bain Capital for £530m, in a controversial deal which would end its member-owned status if its members back the takeover in a December vote.
However, fellow mutual insurer Royal London, which had a bid for the company rejected, has proposed a deal to Bain Capital that involves splitting parts of LV= with the US investment firm, according to proposals seen by the Mail on Sunday.
Royal London reportedly suggested in an email to LV=’s chief executive, Mark Hartigan, that it could
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