Commercial banks
As Bank of Scotland's hostile takeover bid for NatWest has increased in value, the target bank is preparing a defence document that will likely promise shareholders a special dividend and accelerated cost-reduction plans. The bid, worth around £21 billion, is now above its initial value of £23 billion
Commercial banks
As the internet becomes increasingly indispensable for small business owners, fewer feel comfortable handling company finances online. A recent survey by Bank One Corp. found that only 6% of 300 small business owners with 10 or fewer employees banked through the internet, with 7% planning to start online banking in
Commercial banks
Fifth Third Bancorp, a diversified financial services company, announced the acquisition of three offices in Indianapolis from Bank One Corporation. The move is expected to strengthen the company's presence in the Indiana market and provide customers with added convenience. The acquisition marks a significant milestone for Fifth Third,
Commercial banks
Legal & General, the insurer still grappling with the aftermath of the collapse of its £10.7 billion takeover bid by NatWest, has reported robust growth in its core individual life and pensions market in the UK. The firm's new business figures for the third quarter show a
Commercial banks
NatWest's management is caught in the midst of a contentious takeover battle, with Bank of Scotland's hostile bid for the 'big four' player likely to result in significant job losses. UNIFI, the finance union, has expressed concerns over the proposed acquisition, citing potential layoffs
Commercial banks
The Bank of Scotland's hostile takeover bid for National Westminster Bank (NatWest) has reached a critical point as the Scottish bank launched a verbal assault on its rival, questioning NatWest's strategy and accusing it of lacking a clear direction. The bid, which was worth £11 billion,
Commercial banks
NatWest formally abandoned its proposed [pound]10.7bn takeover of Legal & General, citing an unenthusiastic response from institutional investors and a sharp rise in Bank of Scotland's bid following the proposed takeover's emergence. The takeover had been met with skepticism, with NatWest's share
Commercial banks
The banking sector is experiencing a rapid escalation as major players, including Royal Bank of Scotland and Abbey National, consider making bids for NatWest Bank, worth a staggering £23 billion. The situation unfolded when Bank of Scotland proposed a hostile takeover bid for NatWest, which has seen its stock market
Commercial banks
NatWest's high-stakes battle to fend off Bank of Scotland's £22bn hostile takeover bid has reached a critical point, with the London-based bank racing to find a solution to its predicament. The undeclared bid, which Bank of Scotland's chief executive Peter Burt aims to convince
Commercial banks
Bank of Scotland, the third-largest bank in the UK, has made a surprise £22 billion takeover bid for National Westminster Bank (NatWest), in a move that has sent shockwaves through the British banking industry. The bid, worth £35.2 billion, is an opportunistic attempt to block NatWest's planned
Commercial banks
NatWest's planned Pounds 10.75bn takeover by Legal & General (L&G) has been left in disarray following Bank of Scotland's Pounds 20.5bn hostile bid for the high street bank. The collapse of the deal has sent L&G's share price
Commercial banks
Nationwide Building Society has announced plans to take legal action against Barclays Bank over its decision to charge customers $1 for using Barclays cash machines. The move comes after Nationwide argued that the fee is in breach of the rules of the Link cashpoint network, which Barclays joined earlier this
