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.
- 1 I was a Woman Against Feminism too
- 2 Fifty Shades of Grey movie trailer released: First look at Jamie Dornan as Christian Grey
- 3 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 4 Students offered grants if they tweet pro-Israeli propaganda
- 5 Israel has discovered that it's no longer so easy to get away with murder in the age of social media
Vladimir Putin employs a full-time food taster to ensure his meals aren't poisoned
Peaches Geldof: Her final day – and her fatal decision
Students offered grants if they tweet pro-Israeli propaganda
Israel-Gaza conflict: Israel may have committed war crimes, says UN human rights chief
John Barrowman praised for Commonwealth Games opening ceremony gay kiss
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
iJobs Money & Business
£18000 - £20000 per annum + OTE £25K: SThree: SThree Group has been well estab...
competitive: Progressive Recruitment: This really is a fantastic chance to joi...
£40000 - £60000 per annum + BONUS + BENEFITS: Harrington Starr: CXL, Triple Po...
£60000 - £75000 per annum + BONUS + BENEFITS: Harrington Starr: Business Anal...