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ANALYST VIEWS WAS FRIENDS PROVIDENT RIGHT TO REJECT RESOLUTION'S TAKEOVER APPROACH?

<strong>DUNCAN HALL </strong> FINNCAP<br />&ldquo;My view is that Resolution was putting out a pretty forceful, self-declamatory stance, basically claiming they had all the answers in the universe, that nobody else had. In this case Friends felt they are not convinced by that line so yes they were right. But, that is not to say there aren&rsquo;t issues for FP on a significant scale.&rdquo;<br /><br /><strong>BARRIE CORNES </strong>PANMURE GORDON<br />&ldquo;It&rsquo;s a difficult one to answer. The price that was being offered wasn&rsquo;t very much, and there were some concerns about Resolution&rsquo;s governance. That said, what Resolution were proposing, with the current Friends board staying on, would probably have been good for shareholders. It&rsquo;s disappointing it has fallen down.&rdquo;<br /><br /><strong>KEITH BOWMAN </strong>HARGREAVES LANSDOWN<br />&ldquo;There is a feeling that consolidation is likely, and may be needed, in the sector and obviously they would have set the ball rolling so this does create disappointment. Some shareholders will be disappointed the board is looking to close down potential deals. I&rsquo;m not sure Resolution is going to give up the ghost completely on this.&rdquo;