Top Firms Take Roles as Prudential Faces Further Break-Up Demands
New York hedge fund Third Point has called for Prudential to split its US and Asian businesses following the de-merger of its European arm last year.
February 25, 2020 at 06:59 AM
2 minute read
White & Case and Slaughter and May have been handed mandates as a New York-based activist investor calls for a further break-up of insurance giant Prudential's global operations.
New York hedge fund Third Point, which has invested $2 billion in Prudential, has demanded in a letter to the company's board that it split its U.S. life insurance business, Jackson, from its profitable Asian arm, and cease running both arms out of one holding company based in the U.K.
The demands come just several months after Prudential span out its European insurance and asset management businesses into a new company called M&G.
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