UK - JC Flowers expected to swoop on Friends Prov and Resolution merger

Private equity is expected to swoop on the ТЃ8bn tie-up between UK insurers Friends Provident and Resolution. JC Flowers, the US private equity group, has been named in association with a break-up bid. It has looked at a potential takeover of Friends in association with trade rivals Standard Life and Axa in the past. Shares in Friends Provident rose by 8% yesterday on speculation that a private equity bid is imminent.