TSB takeover approach

TartanSaver

Never mind the shareholders, I'm wondering what's going to happen to my classic pluses. If the objective was just to push up the number of accounts, then that was the bait. Now comes the switch, if ownership changes!

Tractorboy82

Does anyone know what will happen with the free share offer from the ipo

Radiantsoul

Tractorboy82 wrote: »

Does anyone know what will happen with the free share offer from the ipo

I did wonder that, as the deal will likely go through before the year has elapsed I guess we are not going to get the extra 5%.

spingoblin

Paul_1977 wrote: »

It appears they like to rebrand like Santander did after a time, so it looks as if the TSB brand will be short lived.

Banco Sabadell have said they would keep the 200 year old TSB brand in the UK but of course if they get control that could change a few years down the line.

zerog

callum9999 wrote: »

It says it's a cash offer. Obviously they haven't actually made the offer yet so could change it, but if they make the offer as it stands then could they really offer to pay it in shares? I thought everyone in the buy out has to get the same offer - so if the accepted offer is for cash, that's what everyone gets?

But I'm well away from being an expert in this, so you could quite easily know much more than me!

You could have the option to use your cash to buy shares automatically, in which case technically everyone would be getting cash

I'm not sure whether the cash for shares would be in your favour or theirs (there will be an admin fee) but it could go either way. There was something similar with Barclays a few years ago

Paul_1977

spingoblin wrote: »

Banco Sabadell have said they would keep the 200 year old TSB brand in the UK but of course if they get control that could change a few years down the line.

Good news, I don't like Sabadell.

Sabadell TSB perhaps in five years time. NO lol.

planteria

interesting news. Lloyds would rather sell TSB than float it off as a UK plc, that is clear. i would have thought that Sabadell will either want to use their own name, or stick to TSB as their UK-division. dual-branding would be naff

colsten

planteria wrote: »

interesting news. Lloyds would rather sell TSB than float it off as a UK plc, that is clear.

Seems you missed the TSB float last June. http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10913722/TSB-shares-soar-on-debut.html

EarthBoy

planteria wrote: »

i would have thought that Sabadell will either want to use their own name, or stick to TSB as their UK-division. dual-branding would be naff

Wikipedia shows that Sabadell are rather keen on dual branding. There's SabadellAtl!ntico, SabadellGuipuzcoano, SabadellSolbank, SabadellUrquijo, SabadellGallego, SabadellCAM, SabadellUnitedBank, Dexia Sabadell and BanSabadell Fincom.

They're probably ordering new signs for the branches saying SabadellTSB as we speak.

Aquamania

Be_Happy wrote: »

...
Have been really pleased with TSB current account and customer service so far, so hope nothing alters.

I like the 4% interest they pay on balances up to £2k too

Probably won't last much longer once the Spaniards get behind the wheel

Oh well, it was nice whilst it lasted ...