Midshires pounds 1,250 windfall

BIRMINGHAM MIDSHIRES will today begin sending out letters to a million customers letting them know the value of their share of pounds 750m being paid for the building society by the Halifax. The majority of members will receive Halifax preference shares expected to be worth about pounds 400 each when dealings begin on 19 April.

More than 400,000 savers will get an additional amount in cash averaging pounds 1,250. Midshires said it intended to send cheques or credit savings accounts by 26 April and post share certificates by 29 April.