Truemors
Digg
del.icio.us
AddToAny
Write
is reporting from
Member
NP Rank:
NP Rank:
UK Alliance & Leicester PLC in talks about takeover
by rahul | July 14, 2008 at 01:23 am | 119 views | add comment | 0 recommendations
Guarding off the mortgage crisis effects around the world, British lender Alliance & Leicester PLC started to talk a possible takeover. In response, shares surged over 45%.
British mortgage lender says it is in advanced talks about a possible takeover2008-07-14 10:09:11 -
LONDON (AP) - British mortgage lender Alliance & Leicester PLC is in advanced talks about a possible takeover, the company said Monday. The company is considering a possible offer at a price of 299 pence (US$5.95) per share, which would value it at about 1.25 billion pounds (US$2.5 billion), it said in a statement. It did not name the potential suitor. Alliance & Leicester had been badly aruised by the tightening credit market following the collapse of the U.S. subprime mortgage market. Shares surged more than 45 percent in morning trading to 319.5 pence (US$6.36) per share. Other banking stocks also rose. The company said its announcement was made without the consent of the potential buyer, adding that there was no guarantee that an offer would be forthcoming.
Related story: US Fed seized IndyMac Bank (Updated)
PS: Anonymous comments are not welcome as they promote bias and diminish Citizen Journalism. Just like anonymous sources, they impaired the right to information and distort notions on confidential sources.
July 14, 2008 at 01:23 am by rahul, 119 views, add comment
Comments (0)