Abbey steps up pressure on N&P
Wednesday 26 April 1995
A source at Abbey said: "If they [N&P] are trying to get away with just offering their members tea and cakes at today's annual meeting, it won't work."
The bank, which converted from being a building society in 1989, hopes enough N&P members will be tempted by the prospect of up to £750 worth of shares each, assuming the society is valued at around £1.4bn.
Abbey's tactics were yesterday rebuffed by the N&P board, which said it would not be "bounced" into any such course of action. N&P members willhave the chance to voice their opinions at the society's annual meeting - but it is unlikely that they will get further information on Abbey's proposal.
The board said: "N&P has been examining its future strategy in some depth over the last few months. As part of this process, N&P has been receptive to the thinking of relevant third parties and is continuing to have discussions with a number of them."
Abbey National had asked for a meeting and it had been agreed that its chief executive Peter Birch would meet with N&P's counterpart Alastair Lyons. It therefore "came as a surprise that Abbey National issued a unilateral press statement yesterday," N&P said.
Meanwhile, Bradford & Bingley denied that its attack on Abbey National on Monday signalled a merger with N&P, saying its concern had been "to defend mutuality in the interests of building society members."
- 1 Woman 'suffocates newborn baby in plastic bag and puts it in her desk minutes after giving birth'
- 2 I've been called an abusive and dangerous parent, when all I did was listen to my transgender child
- 3 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 4 Teaching profession headed for crisis as numbers continue to drop and working lives become 'unbearable'
- 5 Chinese student carries disabled friend to school every day for three years
Nepal earthquake in pictures: Photos show devastation caused by 7.8 magnitude earthquake
Royal baby: Live updates as superbug closes ward at St Mary's Hospital in London where Duchess of Cambridge is due to give birth
Nepal earthquake: Rescuers forced to dig with their bare hands in search for survivors as images show damage to historic buildings
Ed Miliband and Boris Johnson in angry clash live on BBC's Andrew Marr Show
Bali Nine executions: British grandmother on death row in Indonesia Lindsay Sandiford says she 'just wants to get it over with'
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove
iJobs Money & Business
£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50000 - £55000 per annum: Ashdown Group: Business Analyst - Financial Service...
£18000 - £23000 per annum + OTE £45K: SThree: At SThree, we like to be differe...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is the o...