Midshires chief may stand down

Article Abstract:

If the GB 780mn bid by the Halifax for the Birmingham Midshires building society is unsuccessful, it appears likely that Mike Jackson, Birmingham's chief executive, will resign. He was responsible for breaking off talks with the Royal Bank of Scotland and it now seems that the Halifax is not prepared to offer the same terms such as no redundancies for three years and keeping on the Midshires brand which the Royal Bank was prepared to do. *

Comment:

Bids GBP780 mil to take over Birmingham Midshires building society

Savings & Loan Assns, Savings and loan associations

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Bank of Ireland set to top Halifax's Midshires offer

Article Abstract:

The Bank of Ireland is ready to outbid the Halifax's GB 780mn bid for the Birmingham Midshires Building Society. A potential bidding war could come days after the Midshires was released from a GB 630mn offer from the Royal Bank of Scotland. The Bank of Ireland is looking for a UK acquisition to expand into the UK mortgage market. It has already bought the Bristol & West Building Society for GB 600mn last July.

Comment:

Bids GBP780 mil to acquire Birmingham Midshires Building Society

Savings banks, Bank of Ireland Group

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War declared with withering attack on NatWest

Article Abstract:

Bank of Scotland has launched a takeover bid for National Westminster Bank (NatWest). The former is much smaller than its target, but has been extremely critical of it, accusing it of underperforming and of failing to reward shareholders and customers. Some observers believe that Bank of Scotland's efforts to purchase NatWest could spark off extensive consolidation in the UK banking industry.

Banking industry, Management, Planning, Bank of Scotland, National Westminster Bank PLC (London, England)

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