Virgin Money agrees £2.9bn proposed takeover by Nationwide
by Holly Williams
Mar 07, 2024
2 minutes
High street lender Virgin Money has agreed a £2.9 billion proposed takeover by Nationwide Building Society in a move set to create the UK’s second largest mortgage and savings group.
Nationwide has put forward a 220p-a-share approach for Virgin Money, including a planned 2p-per-share dividend payout, which it said is a 38% increase on Virgin Money’s closing share price on Wednesday.
The companies said they had reached a
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