Nationwide/Virgin Money (VUK AU): At The Pointy End Of The Offer
Back on the 21st March, Virgin Money UK (VUK AU/VMUK LN), UK's sixth largest retail bank, entered into a Scheme with Nationwide Building Society, at 220 pence/share, in cash.
The consideration is a solid 38% premium to undisturbed. And shareholders backed terms at the 22nd May Court Meeting. Plus UK's CMA signed off on the 19th July.
What now? FCA/PRA approvals are the key remaining conditions. These regulatory approvals are imminent.
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