FP.

"FRIENDS PROVIDENT has rebuffed a fresh attempt by the American private-equity firm JC Flowers to open talks about buying all or part of the embattled life insurer. Friends’ board is understood to have rejected the approach on the grounds that JC Flowers’s plans were too vague. Bankers said the letter was more of an overture and did not include any form of takeover offer or detailed financial terms."

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3340853.ece