Bank of Scotland vows to pursue NatWest bid
Thursday 04 November 1999
The statement came after the City Takeover Panel publicly rejected an appeal by Bank of Scotland's advisers, Morgan Stanley and CSFB, against an earlier ruling that it would not set a date by which RBS would have to clarify its intentions towards NatWest.
Analysts said the remarks came dangerously close to an admission by BoS that it would raise its offer for NatWest if RBS entered the fray.
The rejection of the appeal is a serious blow to Bank of Scotland, which has been trying for weeks to flush out a formal counterbid from its Scottish rival for NatWest. Bank of Scotland had originally asked the Panel to force RBS to make a clear statement of its intentions within 48 hours of the publication of NatWest's defence document. BoS had argued that the uncertainty over RBS' intentions was creating a false market in NatWest shares.
However, the Panel turned down the request on the grounds that it did not want to be seen to be changing the tactical balance in the bid battle by "requiring RBS to decide its intentions prior to the final date for revision of BOS offer".
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
Shock poll shows voters believe Ukip is to the left of the Tories
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
New era of cheap oil 'will destroy green revolution'
Ukip founder Alan Sked and Nigel Farage 'begged Enoch Powell to stand as a candidate'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
iJobs Money & Business
£32000 - £35000 per annum + benefits: Ashdown Group: Marketing Services Manage...
£Neg. (DOE) + Excellent Benefits: Guru Careers: A Finance Account Manager with...
£40000 - £470000 per annum + bonus: Ashdown Group: Java Developer / J2EE Devel...
£45000 - £55000 per annum + Benefits: Ashdown Group: An exciting opportunity h...