Professional Services

Friends Provident closes the door on bid from investment firm Resolution

Life insurer Friends Provident has snubbed a third takeover proposal from investment firm Resolution and ended talks.

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00:00, 28 JUL 2009
Updated23:46, 30 MAY 2013

Life insurer Friends Provident has snubbed a third takeover proposal from investment firm Resolution and ended talks.

FP called Resolution’s latest cash-and-shares bid - which valued it at £1.75 billion - “wholly inadequate”. It said parts of Resolution’s structure and governance were “totally inappropriate in a public company context” and against current best practice.

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