UK - Friends Provident has refused to comment on speculation it is talking to buyout firms about taking on part of its pension fund, to make the company a more attractive takeover target.
The news comes as Friends Provident confirmed it would refuse an offer from JC Flowers & Co to acquire the group for 150p a share in cash, as it claimed the proposal significantly undervalued Friends Provident and its prospects and did not represent a basis for discussion.
A spokesman for Friends Provident, would not confirm the reports, but said it was good business management to ensure that a risk management strategy was regularly reviewed in relation to all aspects of the business.
He added: "In respect of the company pension scheme, in the risk review carried out by the Pension Scheme Trustees, account has obviously been taken of aspects such as increasing longevity, but also other aspects such as equity performance, retirement ages etc.
"The risk review has no impact on actual benefits for our employees."