Friends Provident shuns new JC Flowers offer

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Friends Provident shuns new JC Flowers offer

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04-01-2008, 05:38 PM

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Friends Provident shuns new JC Flowers offer

After a tough 12 months, insurer Friends Provident now feels able to reject a £3.5 billion take-over bid from private equity house JC Flowers. JC Flowers has made an offer of 150p a share, however, Friends insists that this proposal ’significantly undervalues Friends Provident and its prospects and does not represent a basis for discussion’. [...]

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