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 I was raped by another man. And now the Government wants to take away the one thing that saved my life
- 2 Wikipedia edits from inside Parliament removing scandals from MPs' pages, investigation finds
- 3 Preston fan who appeared to snatch Jermaine Beckford's shirt from eight-year-old boy identified and says: 'the truth will come out'
- 4 Johnny Depp facing 10 years in jail for illegally bringing dogs to Australia
- 5 Iran launches anti-Isis cartoon competition 'to expose true nature of Islamic State'
Wikipedia edits from inside Parliament removing scandals from MPs' pages, investigation finds
Australian man punched in the face for defending Muslim women from abuse on train
Priest warns pupils the 'Charlie Charlie Challenge' is 'demonic activity'
Johnny Depp facing 10 years in jail for illegally bringing dogs to Australia
Iran launches anti-Isis cartoon competition 'to expose true nature of Islamic State'
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
EU referendum: David Cameron's rules are a 'democratic disgrace', says French-born Scottish politician set to be denied a vote
The day that Britain resigned as a global power
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
A nation of inequality: How the UK is failing to feed its most vulnerable people
EU referendum: David Cameron to deny EU migrants and under-18s the chance to vote
iJobs Money & Business
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is a mul...
£55 - 65k (DOE): Guru Careers: A unique opportunity for a permanent C# Develop...
£16 - 20k: Guru Careers: A Graduate Editor / Editorial Assistant is needed to ...
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...