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  • The Independent

    Nationwide set to take over Virgin Money in £2.9bn deal

    by Holly Williams Mar 21, 2024 3 minutes
    Source: PA Archive

    Nationwide Building Society is set to take over smaller rival Virgin Money after the pair agreed a deal worth around £2.9 billion.

    Nationwide has made a 220p-a-share firm offer for Virgin Money, including a planned 2p-per-share dividend payout, which will now be voted on by Virgin Money shareholders.

    Confirmation of the deal comes after the two companies reached a preliminary agreement earlier this month, with Nationwide having spent the past two weeks looking through Virgin Money’s books before making the firm offer.

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