Abbey prepares surprise pounds 11bn offer for L&G
Monday 27 September 1999
Abbey National, which vetoed the idea of a merger with NatWest three years ago, has rejected offers to step forward as a white knight for the high street bank.
But the idea of adding on an attractive life and pensions brand would be attractive, as Abbey is under pressure in the City because of the sharp fall in market share in its core mortgage market. Abbey would not be alone in its interest in L&G. Aegon, the Dutch insurance giant that looked at trying to trump NatWest's pounds 10.85bn, has been looking again since it became clear that the NatWest bid could fall apart.
HSBC, the banking giant, is keen to expand its life and pensions sales and could also make a move.
But City sources said last night that Abbey was the only group that could offer David Prosser, L&G's chief executive, a role as important as the deputy chairman post he was in line for at NatWest.
- 1 If these extraordinarily powerful images of a dead Syrian child washed up on a beach don't change Europe's attitude to refugees, what will?
- 2 Senior British politicians tell David Cameron: When dead children are being washed up on beaches – it's time to act
- 3 Make your voice heard: Sign The Independent's petition to welcome refugees
- 4 Refugee crisis: Aylan's life was full of fear - in death, he is part of 'humanity washed ashore'
- 5 German police forced to ask public to stop bringing donations for refugees arriving by train
Senior British politicians tell David Cameron: When dead children are being washed up on beaches – it's time to act
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don't change Europe's attitude to refugees, what will?
Britain to take more refugees as Cameron bows to pressure after more than 100,000 back our campaign
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
iJobs Money & Business
£20000 - £40000 per annum + OTE + Incentives + Benefits: SThree: Established f...
£20000 - £25000 per annum + OTE 40/45k + INCENTIVES + BENEFITS: SThree: The su...
£14000 - £16000 per annum: Recruitment Genius: This company was established in...
£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...