Alliance and Leicester in Bid Talks.

Speculator

British bank Alliance & Leicester has disclosed that it has received a takeover bid from an unnamed source.

see

http://news.bbc.co.uk/1/hi/world/7504822.stm

YorkshireBoy

Let the speculation begin...

My money is on LTSB.

penrhyn

No need to speculate its Santander (Abbey to the uninitiated)

Speculator

According to the BBC, Spains Santander has made a takeover bid.

YorkshireBoy

penrhyn wrote: »

No need to speculate its Santander (Abbey to the uninitiated)

Whoops! The article was updated with additional information after I read it.

A Santander takeover would put all the rotten eggs in one basket though, if the number of grumbles on these boards is anything to go by.

greco_2

Santander have been building a warchest for some time. I doubt that A&L are the only bank they've got an eye on.

setmefree

I think everyone is missing the point,if the take over doesn't happen then i think confidence or lack of it will lead to another Bradford and Bingley situation.

duncaf

what happens if I have 35K in Abbey and 35K in Alliance and Leicester and they become one? I can't more it as it's in a two year bond say. Hence reduced cover. Anyone know the answer please? If we're about to see loads of mergers and takeovers in the Banking sector this will be a very pertinent point for many savers (or those lucky enough to be saving large amounts I guess)

Oblivion

YorkshireBoy wrote: »

A Santander takeover would put all the rotten eggs in one basket though, if the number of grumbles on these boards is anything to go by.

I should say so. Abbey and Alliance & Leicester merging ... talk about the Muppet Show.

Dave.

RayWolfe

duncaf: Haven't you got anything real to worry about?
Seriously, if it does happen it will take many, many months to come to fruition.
And, if it does, you would have a problem (of minuscule proportions) until your two 2 year bonds mature.

Oblivion

duncaf wrote: »

what happens if I have 35K in Abbey and 35K in Alliance and Leicester and they become one? I can't more it as it's in a two year bond say. Hence reduced cover. Anyone know the answer please? If we're about to see loads of mergers and takeovers in the Banking sector this will be a very pertinent point for many savers (or those lucky enough to be saving large amounts I guess)

Although I don't have any money with either of these clowns now, the general issue you raise does concern me. I shall look forward with great interest to any announcements on this subject. I suppose if they were to take the moral path, they would continue to recognise existing accounts with each organisation as separate registrations under FSA / FSCS rules.
But we shall have to wait and see.

Dave.