UK chal­lenger bank in £1.1bn takeover

Shares - - BIG NEWS -

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)

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.