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Friends calls on JC Flowers to clarify position

Friends Provident on Tuesday called on JC Flowers to clarify its intentions as its profits fell by more than expected. Sir Adrian Montague, the life assurer’s chairman, said the US private equity group had not yet made an offer for the company. JC Flowers, which has a 2.7 per cent stake, in January said it was considering making an offer.The uncertainty is not good for anybody,” said Sir Adrian. “We call on Flowers to make its position clear.”

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http://www.ft.com/cms/s/0/537a66ac-ef3d-11dc-8a17-0000779fd2ac.html