UK: WOOLWICH SUBJECT TO TAKEOVER RUMOURS

Article Abstract:

Woolwich is on the stock market's takeover targets. The mortgage lender share saw its share price rise 7.5p to 322.25p as rumours abounded. The recent slide in the bank's shares has triggered takeover alerts in some of its competitors. Several banks would be interested in the Woolwich's mortgage book including the Abbey National and Lloyds TSB.

Woolwich

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UK: ABBEY CLOSURES IF LLOYDS TAKES OVER

Article Abstract:

UK High Street ban Abbey National considers that a takeover by Lloyds TSB would lead to huge job losses as around 666 Abbey branches out its total of 760 are only 500 metres away from a Lloyds TSB branch. Analysts have put job losses as many as 14,000 over four years. Lloyds is thought to have offered between GB[pound] 13 and GB[pound] 13.50 in the form of a cash sum of around GB[pound] 2and the balance in Lloyd shares. If the Abbey National announces a deal with the Bank of Scotland in the next few days, then Lloyds could submit a hostile bid.

Personal credit institutions, Brief Article

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UK GARTMORE ATTRACTS ABN AMRO

Article Abstract:

National Westminster Bank (NatWest) has invited back three of the companies interested in acquiring its asset management arm, Gartmore, to discuss their bids further. Dutch bank ABN Amro is thought to be the likeliest candidate, but Swiss bank, Credit Suisse and Wall Street investment bank, Goldman Sachs are strong contenders. NatWest is keen to find a buyer that isn't already specialising in asset management in order to avoid job losses. It is thought that Gartmore will be priced at around GB[pound] 1bn.

United States, Strategy & planning, Netherlands, Banking Institutions, Depository Credit Intermediation, Unit Trusts (Oil, etc), Debt & Equity Securities, Other Financial Vehicles, Banks (Finance), Investment companies, Unit investment trusts, National Westminster Bancorp Inc., ABN AMRO Bank N.V. (Amsterdam, Netherlands)

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