As you know RSA has been the subject of an agreed takeover but the announcement says
RSA Preference Shares
RSA has in issue 125,000,000 RSA Preference Shares which are listed on the Official List of the London Stock Exchange. With the consent of the Panel, no separate offer will be made for the RSA Preference Shares.
Does anyone have any idea what this means in pracice. I hold the RSAB 7.3/8 Cum Irred prefs?
What will happen to them in future ?are they just taken over by the offeror?
Thanks in advance