Bid for Friends Provident February 4th, 2008

US private equity group JC Flowers looks set to launch another approach for the UK life assurer, Friends Provident.  Shares in Friends have witnessed a sell off in recent months and following the release of a strategic review and subsequent further 10% fall on Thursday, shares ended the week at 136p.

The JC Flowers bid could value the company at 175p per share, a significant premium on the current price but below the 200p per share marker seen before the sell off.

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