UK challenger bank in £1.1bn takeover
FINANCIAL SERVICES group Aldermore (ALD) has agreed the terms of a £1.1bn takeover offer by South Africa’s FirstRand.
The deal values the bank at 313p per share and is priced at a 22% premium to the price on the day before takeover talks were revealed on 12 October.
Since the confirmation on 6 November, Aldermore’s shares have crept up and at time of writing are near FirstRand’s offer price. (DS)