Resistance to a proposed takeover bid of Royal & SunAlliance (R&SA) by Corvus Capital has forced the company to drop its plans.
An announcement today said Corvus had pulled out of the offer after R&SA management indicated it would not support any bids.
“Corvus… would only have intended to proceed with an offer for R&SA with the cooperation of existing management. This cooperation was not forthcoming,” a statement said.
