Prudential's Asia negotiations were 'Pru-lish'
Prudential's pre-merger negotiations with its British investors have been described as "Pru-lish".
The manner in which the UK assurer conducted its pre-merger
negotiations with its British investors has been described as
That is according to the Financial Times, which coined the
phrase to demonstrate the foolishness of the company's actions with
regards to its attempts to secure a merger deal with AIG's Asian
The news provider suggests that the company's behaviour was
"clumsy", insisting that such a reputable firm "should know
It stated: "Prudential's Asian adventure has begun with a series
of stumbles so surprising that a new word - Pru-lish - is
"It was Pru-lish for the UK assurer not to devote more time to
courting its core British-based institutional investors after it
was jumped into announcing its planned merger with AIA, AIG's Asian
Furthermore, the newspaper suggests that it was Pru-lish for the
multinational to presume that it would be able to pass the deal
through the Financial Services Authority prior to the planned
announcement of the $21bn merger.
Prudential serves 25 million people and has £290 billion of
assets under management.