Alliance & Leicester confirms takeover talks
Monday 14th July 2008, 8:57AM BST.
Alliance & Leicester has confirmed it is in an “advanced stage” of takeover talks, with Abbey-owner Santander tipped as the buyer.
The name of a bidder has not been confirmed by Alliance & Leicester but a price of 299p a share is on the table.
With a right to receive an interim dividend of 18p a share, the total value of the offer is at 317p a share.
A statement from Alliance & Leicester, however, maintained doubt over the deal.
“There can be no certainty that an offer will be forthcoming or as to its terms,” the firm stated.
Speculation is now rife about who the bidder could be – with suggestions of a foreign bidder rife and Banco Santander leading the pack.
The firms share price rocked on the news, up 40.94 per cent, to 309 pence at 8:36 BST this morning.
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