NatWest Takeover Battle Swings in Bank of Scotland's Favour

Bank of Scotland has gained the backing of a major shareholder, Phillips & Drew Fund Management (PDFM), in its bid to take over NatWest. PDFM, one of Britain's largest pension fund managers, holds 2.3 percent of NatWest's shares and has a stake in Bank of Scotland and Royal Bank of Scotland. The voting intentions of most shareholders remain unclear, with some expected to decide in the coming days. Meanwhile, Abbey National has taken over NatWest as Britain's largest provider of remote cash machines, with 1147 machines installed at supermarkets, petrol stations, and other sites.

Key Takeaways:

• Phillips & Drew Fund Management (PDFM) has backed Bank of Scotland's bid for NatWest, with 2.3 percent of NatWest's shares.
• PDFM owns stakes in both Bank of Scotland and Royal Bank of Scotland.
• Norwich Union is backing Royal Bank of Scotland's bid, holding 1.12 percent of NatWest's shares.
• Most shareholders will decide their voting intentions later in the week, with some meeting with management teams this week.
• Abbey National has taken over NatWest as Britain's largest provider of remote cash machines, with 1147 machines installed.
• PDFM owns 4.5 percent of Bank of Scotland and 0.5 percent of Royal Bank of Scotland.

Statistics:

• PDFM holds 2.3 percent of NatWest's shares.
• Norwich Union holds 1.12 percent of NatWest's shares.
• Abbey National has 1147 remote cash machines installed.
• NatWest has 1105 remote cash machines installed.
• Royal Bank of Scotland has 923 remote cash machines installed.
• Bank of Scotland has 625 remote cash machines installed.
• PDFM owns 4.5 percent of Bank of Scotland's shares.
• PDFM owns 0.5 percent of Royal Bank of Scotland's shares.
• Over 30,000 ATMs are installed in the UK.

Sources:

• [No source provided in the original text]