Will I get a windfall?

By THIS IS MONEY
Updated:

 

I have an endowment policy and two pensions (one frozen) with Legal & General. Now NatWest is proposing to buy L&G, will I be entitled to any windfall or extra benefits if it goes ahead? SD, no location given

A spokesperson for Legal & General says: No. In takeover situations, policyholders only stand a chance of getting a windfall if the company being taken over is a mutual, ie, if it is in effect owned by its customers. L&G is not a mutual, but a company with shareholders, as is NatWest, so the takeover is a transaction between NatWest and L&G shareholders only. Policyholders cannot expect to get windfalls in this situation. NatWest confirms this.

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