Mercantile Building Society

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Is anyone here set to benefit from a probable £100+ gross windfall at Mercantile Building Society, which is going to be taken over by Leeds BS if Mercantile members vote in favour? (And why would they not?)

Investors' Association Link - Some initial information about the deal and consolidation in the BS sector in general

I'm not personally a member, but there may be MSE people who are that can keep us all posted about developments.

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Leeds BS invites other small societies to approach it with a view to merger

Is there going to be a new wave of consolidation within the building society industry? The Leeds BS Chief Executive seems to have had a major change of heart and Portman BS is always open to offers from small & medium sized societies.

There are cost savings to be made, and a stronger mutual sector waiting to be created if the smaller societies' directors can see the bigger picture. But boadroom self interest is likely to remain paramount, so don't count on it.