US equity firm eyes £3.5bn bid for Friends Provident
US private equity firm JC Flowers today insisted its £3.5bn (€2.22bn) proposal to take over British financial services firm Friends Provident was "attractive" as it stepped up its battle to gain the board's backing for the bid.
Flowers stood by its 150p-a-share proposal, despite Friends snubbing the indicative offer tabled last week.