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F&C Asset Management (FCAM)

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Tuesday 10 March, 2009

F&C Asset Management

F&C Asset Management plc ceas

RNS Number : 5821O
F&C Asset Management PLC
10 March 2009

To: London Stock Exchange                            

Attention: RNS

From: F&C Asset Management plc ('F&C')

Date:  Embargoed until 07.01am on 10 March 2009

F&C Asset Management plc ceases to be in an offer period

On 31st January, 2008, the Board of Friends Provident plc ('FP') announced that its continuing ownership of its 52 per cent. interest in F&C did not fit its revised strategy.

Accordingly, the Board of F&C stated that it intended to explore opportunities for F&C with a view to maximising value for FP's shareholders.

As a consequence of that announcement, and further to discussions with the Takeover Panel, F&C was deemed to be in an offer period as defined in the Takeover Code.

Since that time, both FP and F&C have held discussions with a number of parties concerning a possible transaction involving F&C. Those discussions have now ceased as confirmed by FP in its announcement earlier today.

In light of the above, F&C is no longer in an offer period as defined in the Takeover Code.

This information is provided by RNS
The company news service from the London Stock Exchange