Cowdery refuses to rule out Friends bid

Speculation surfaced last week Cowdery was looking to bid for one-time merger target Friends, which is currently undertaking a large group-wide restructure. In a statement to the stock exchange this morning, Resolution did not rule out any scenario. “Whilst Resolution is not currently considering any particular transaction with a specific counterparty, it does not wish, for the purposes of the takeover code, to reduce future flexibility to take advantage of opportunities that may arise,” it reads. “Accordingly no particular course of action has been determined nor anything ruled out.”...