Friends Provident has once again entered discussions with Resolution Limited after receiving a "sufficiently improved" bid from the Clive Cowdery-led acquisition vehicle.
Over the past few weeks, the UK market has been experiencing some broadening out, and we have seen the defensive sectors playing catch-up with good share price rises in tobacco and food producers, for example.
Friends Provident has ended discussions with Resolution after rejecting yet another takeover proposal by the Clive Cowdery-led group.
Clive Cowdery's consolidation vehicle Resolution returned to the negotiating table with a sweetened offer for Friends Provident this morning.
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