Scot free?
Article Abstract:
National Westminster Bank may retain its independence despite bids for the company from Royal Bank of Scotland and Bank of Scotland. The bids have been rejected by NatWest and a defence document was issued on Jan 24 2000. NatWest's plans include the sale of assets. The bids will lapse if they do not succeed within 60 days, so the outcome will be conclusive. No further bid is permitted for a 12 month period by either of the Scottish banks involved.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 2000
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The bidding for NatWest
Article Abstract:
Bank of Scotland and Royal Bank of Scotland are both seeking to acquire National Westminster Bank. This move is likely to lead to greater consolidation in the British financial services industry. NatWest has not been able to control its costs and has made a number of errors, while British banking itself has high profit margins. NatWest faces competition from specialist issuers of credit cards, Internet companies, supermarkets and other sources. The greater the number of bidders for NatWest the better, and hostile bids are a way to ensure that costs are cut and change is carried out.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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Scotched
Article Abstract:
Bank of Scotland and Royal Bank of Scotland (RBS) are both seeking to acquire NatWest. RBS saw a drop in its stock price after the offer was made, and this means that the offer is worth less, since it is based on the stock price. NatWest Management is likely to find the RBS bid more attractive. RBS argues that it could achive greater cost savings than its rival. RBS also has the backing of a cash injection from BSCH, which holds a stake of 9.6% in RBS.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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