  We present high resolution spectroscopy of the common proper motion system FH
Leo (components HD 96273 and BD+07 2411B), which has been classified as a
novalike variable due to an outburst observed by Hipparcos, and we present and
review the available photometry. We show from our spectra that neither star can
possibly be a cataclysmic variable, instead they are perfectly normal late-F
and early-G stars. We measured their radial velocities and derived the
atmospheric fundamental parameters, abundances of several elements including
Fe, Ni, Cr, Co, V, Sc, Ti, Ca and Mg, and we derive the age of the system. From
our analysis we conclude that the stars do indeed constitute a physical binary.
However, the observed outburst cannot be readily explained. We examine several
explanations, including pollution with scattered light from Jupiter, binarity,
microlensing, background supernovae, interaction with unseen companions and
planetary engulfment. While no explanation is fully satisfactory, the scattered
light and star-planet interaction scenarios emerge as the least unlikely ones,
and we give suggestions for further study.
