Leek United spurns offer
Tuesday 07 September 1999
Mr Redwood is a director of Murray Financial Corporation, a group set up last year to acquire building societies and life assurance firms. So far, Murray has not managed to buy anything, although it says it has had talks with several societies.
Murray first approached Leek's board two weeks ago, but was told the building society wished to remain independent. Murray then offered Leek's chairman a position on its board, but to no avail. The bid values the building society at pounds 30.5m.
Leek said yesterday: "Having examined the offer carefully, the board has decided, unanimously, to reject it because it is not in the interests of members of the society."
Murray's chief executive, Kenneth Murray, disagrees. Under the terms of his proposal, the society's members would receive pounds 950 windfalls once the acquisition was complete. A spokesman for Mr Murray said it would be "arrogant" of Leek's board not to offer its members the chance to vote. He also said he expects 100 of Leek's investors, the minimum number required to demand a vote, to come forward once they learn of their board's decision.
Geoffrey Macnab does not like the comedian's big screen debut
Look beyond the usual shows for the best festive telly
The battle for control of Stieg Larsson's £30m legacy
French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
Sun will 'flip upside down' within weeks, says Nasa
PAs cleared of fraud - and Nigella Lawson left reeling at 'ridiculous sideshow' of drug allegations and public dissection of marriage to Charles Saatchi
Burglar steals video tapes of child abuse, hands them into police
Paul Walker's daughter Meadow attends Justin Bieber Believe premiere
- 1 Bonuses for goals and top four finish as Luiz Suarez joins Premier League's top three earners
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 3 #Teamnigella: It’s the only side to be on
- 4 Christmas comes early: Justin Bieber is 'retiring from music'
- 5 Burglar steals video tapes of child abuse, hands them into police
- < Previous
- Next >
iJobs Money & Business
£Negotiable: Citifocus: High calibre individual with institutional client serv...
£120000 - £150000 per annum: Cornwallis Elt : Programme Manager, Strategy Lead...
£55000 - £120000 per annum: Pro-Recruitment Group: The Financial Services Tran...
£600 - £700 per day: Harrington Starr: Client based in West London is looking ...