Friends Life Suspends Share Buy Back Program
November 24 2014 - 2:40AM
Dow Jones News
LONDON--Financial services company Friends Life Group Ltd
(FLG.LN) said Monday that it has decided to suspend its share buy
back program until it reaches an agreement on terms and conditions
of a possible all share combination with Aviva PLC (AV.LN).
The company has suspended its share buy back program as of Nov.
21.
The buy back program commenced on Oct. 31, 2014, and to date 9.1
million ordinary shares have been purchased for an aggregate
consideration of 29.9 million pounds ($46.7 million).
Friends Life will look to reinstate the buy back program, if it
fails to reach an agreement with Aviva.
Write to Tapan Panchal at tapan.panchal@wsj.com
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