US private equity firm JC Flowers has confirmed it is interested in acquiring Friends Provident. Fr...
US private equity firm JC Flowers has confirmed it is interested in acquiring Friends Provident.
Friends Provident has been the subject of much takeover speculation after it announced it was to form provider Friends Financial with Resolution. However, that deal floundered.
At the end of last month, JC Flowers released a statement to the London Stock Exchange announcing it had acquired a 2.7% stakehold in Friends Provident, suggesting a £4bn takeover deal could be on the cards for the provider.
Implying that any potential takeover was still in its early stages, the statement said: "There can be no certainty that an offer will be made to Friends Provident's shareholders."
In addition, Royal London admitted it "would not say no" to a potential acquisition of Friends Provident's protection arm.
Alisdair Buchanan, head of communications at Royal London, said: "We are looking at various opportunities. If it makes sense to us then we may look further."
