Manulife drafts in shop to win over bid shareholders

Canadian financial services group Manulife has drafted in City PR agency The Maitland Consultancy to help win shareholder support for its £2.6bn hostile bid for insurance firm Canada Life.

Maitland has a task ahead of it in persuading some 60,000 Canada Life investors across the UK and Ireland to back the takeover, rejected by Canada Life's board for being too low.

The agency will work with Dublin-based agency MRPA Consultants, which was hired by Manulife this week to provide investor and media relations work across Ireland.

Maitland senior consultant Martin Leeburn said they would raise awareness of what the bid means for Canada Life shareholders, many of whom gained shares through demutualisation four years ago.

Maitland reports into Manulife chief executive Dominic D'Alessandro and vice-president of corporate comms Donna Morrison.

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