FirstRand's Aldermore Plans Bid for the Co-operative Bank, Sky News Reports
-- U.K. bank Aldermore Group, which is part of South African lender FirstRand Bank, is working on a takeover bid for the Co-operative Bank, Sky News reports citing unnamed sources.
-- The group has hired BNP Paribas investment bankers to work on an offer ahead of the deadline set by the Co-op's advisers next month, Sky News reports.
-- Paragon Banking Group and OneSavings Bank, which were seen as potential bidders, are unlikely to participate in the action, Sky News reports. Last month, it also reported that Shawbrook Group approached the Co-op Bank with a stock-based proposal for a GBP3.5 billion combination of the two banks.
Full story: https://tinyurl.com/2pz9cm54
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
September 19, 2023 07:32 ET (11:32 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks