Saturday papers: JC Flowers poised to make fresh approach to Friends - bid news and gossip

JC Flowers to make fresh approach to Friends Provident.

 * JC Flowers is poised to make a fresh approach to Friends Provident which could be pitched between 150p and 160p a share valuing the insurer at up to £3.7 billion

 * Major shareholder Robert Tchenguiz delivers a sharp attack on the boards of Sainsbury and Mitchells & Butlers accusing them of failing to maximise shareholders value from their property assets

 * Laxey Partners emerges as the largest shareholder in Shaftesbury with a 14.5% stake

 * Woolworths is to explore the sale of its stake in Zentertain, a publishing joint venture with the BBC

 * Cobra Holdings raises £1.6 million in placing at 97p; in advanced talks on buying broking business

 * Norish buys cold store site for £3.1 million

 * Welcome Break has been sold by Investcorp to a consortium of investors led by Netherlands NIBC bank

 * Gibralta-based hedge fund Heather Partners is taking on deals surrendered by increasingly nervous banks

 * Premier Research agrees 115p-a-share bid from Imprint via scheme of arrangement