Santander Resuces A&L for £1.26 B
Jul 14, 1:58 PM EDT |
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| Santander, the largest euro zone bank offeres £1.26 billion to the troubled UK lender Alliance & Leicester. |
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| The largest euro zone bank Santander offered to purchase Alliance & Leicester for 317 pence per share. The deal values the company at 1.26 billion pounds and includes an interim dividend of 18 pence to shareholders. Santander returned to purchase the troubled UK lender at a lower price after three months as credit market weakness have persisted and A&L trades at nearly 50% lower price. The deal is fraught with risks at UK economy slows down and credit market remain jittery. |
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