Prudential drops Jackson IPO in favour of demerger, may raise $2.5-3 bn

British life insurer Prudential said on Thursday it would split off its U.S. business Jackson through a demerger and may raise $2.

5-3 billion in new equity, abandoning plans for a minority initial public offering. Britain's largest insurer, under pressure from activist investor Third Point to break in two, said last year it planned a minority IPO of Jackson. But on Thursday it said that a demerger would allow a quicker separation than a minority IPO and future sell-downs. Prudential split off its British life insurer M&G through.....

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