Alliance and Leicester in Bid Talks.

Andrew64

setmefree wrote: »

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.

This is exactly the problem! The shares have only gone up due to the prospect of a takeover. If it doesn't happen, the share-price is likely to drop sharply to B&B levels! If anyone has A&L shares, this may be the time to sell.

ih8stress

I was looking to open an ISA with A & Leicester today. Should I go ahead?

agent_orange_2

The banks are now looking cheap, sp wise. The big fish will swallow the minnows, big banks will survive - don't worry about that.

agent_orange_2

ih8stress wrote: »

I was looking to open an ISA with A & Leicester today. Should I go ahead?

What possible difference could it make?

Stavros_3

I have a 1 yr 7% fixed rate bond with the A/L. If taken over by Santander would the interest rate remain the same with the new owners. It matures next January

earlgrey_3

Stavros wrote: »

I have a 1 yr 7% fixed rate bond with the A/L. If taken over by Santander would the interest rate remain the same with the new owners. It matures next January

Yes.

In fact it's likely they wouldn't even change the name for some time - just as they did when Santander took over Abbey.

johnbfan

Well - some of our savings are with Bradford and Bingley, and our Mortgage with A&L.

Whose next that I have a financial 'interest' in?

seasidepom

After approximately 15 years of holding accounts with Abbey with no problems whatsoever (excellent service in fact), as soon as Santander took over I had nothing but trouble with them. Even after requesting them to close accounts, they still kept them open and continued to pay standing orders which had been cancelled (in writing) and then send me threatening letters demanding that I repay the "overdraft" immediately as it had been granted on the basis of regular income into the account which they were not receiving (of course not, why on earth would I pay into a closed account?). This took several months of severe aggravation to sort.

For this reason, I want nothing to do with Santander and will be closing my A&L account and moving the funds elsewhere asap....

duncaf

I simply wondered what the position would be and felt it of interest to a significant number of consumers as there is talk of considerable takeover/merger (as you know) in the next few years.
I know it will take some time. But as the government has just announced changes to the rules regarding compensation this issue should be one that is floated now.
So personally worried? no mate.
But maybe someone might know if it is something the government has addressed anywhere in their proposals.
Thanks
:j

Banderman

Andrew64 wrote: »

This is exactly the problem! The shares have only gone up due to the prospect of a takeover. If it doesn't happen, the share-price is likely to drop sharply to B&B levels! If anyone has A&L shares, this may be the time to sell.

Very true. Sell now if you have any sense. For some reason they're above the Santander bid price of 317 pence. Also if the takeover does go through you're going to have Spanish shares and get dividends in Euros with all the hassle that will entail.