An initiative by Dean Buckner’s UKSA policy team exposing weaknesses in Bain Capital’s bid for LV was sent to the FCA and picked up by the national press. The members rejected the bid by the small margin of 6%.
Speaking after the vote, Dean Buckner said:
"This is a great outcome. UK Shareholders’ Assocation (UKSA) has been promoting the idea of ‘Savers Take Control’ for years, and now Savers are finally taking control. What we must address now is the feeble attitude of the regulators, who did not object to a proposal with so little meat behind it, and who relied on an ‘Independent Expert’ to impart a veneer of respectability to the whole process. The FCA should not be subcontracting responsibility for forming a view on a matter of such great public interest.”
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