Building Society Mergers / takeovers possible windfalls

Froggitt

planteria wrote: »

but the concept that a Building Society can be deemed 'desirable' by another organisation, as an acquisition or partner, remains. it's not as simple as 'merge with another Building Society' or 'demutualise & float on the Stock Exchange'..there may be other outcomes, not yet thought of, as part of the further consolidation of the financial services industry.

Like opening a chain of pubs..............

planteria

in the premises where the branches once were?

Froggitt

Correct. Mines a pint of National Counties if youre buying.

patientperson

The directors of most building societies are well and truely on the gravy train. In some of the smaller societies there are more directors than seem to be necessary. The directors (in general) will probably run down the reserves in continuation of their life style. At some point they may look to a merger but having emptied the coffers there will be little left for the members.

Froggitt

These poxy little societies don't each need a board of non-execs trousering a combined million quid or so from each society. Plus of course a CEO taking home a quarter of a mill, CFO etc etc etc.