Prudential’s announcement that its demerger of its US business Jackson will be delayed to the second half of 2021 has caused its share price to dip 5%.
According to a report by Reuters, the demerger was expected to take place this month, following Prudential’s previous announcement that it would occur in the second quarter. Activist investor Third Point is one of the major drivers of the demerger though constant pressure.
Prudential said that while the transaction has received approvals from Michigan and New York regulators, it is still continuously engaging with regulators, awaiting Jackson’s first-quarter financial performance.
“The US demerger