British insurer Friends Provident can be merged for 4 billion pounds sterling
31 January 2008American investment company JC Flowers informed, that can propose a purchase of the British insurer Friends Provident. After that statements Friends Provident’s quotations have grown by 5,6 %.
At the end of 2007 JC Flowers has made attempt to start negotiations about the M&A-transaction, suggesting to pay about 175 pence for each stock certificate of Friends Provident, or 4 billion pounds sterling for the company.
However then the British insurer doubted, whether the investment fund, which now holds 2,7 % of Friends Provident’s shares, can finance the transaction.
In opinion of analysts, the price in 175 pence for a stock certificate, offered by JC Flowers is very low: the management of the British insurer waits for the offer at a level of 200 pence.
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