Virgin Money

2024 - 3 - 7

Nationwide Building Society to Acquire Virgin Money in Record-Breaking £2.9bn Deal

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BREAKING: Nationwide Building Society sets sights on Virgin Money in a monumental £2.9 billion takeover bid!

Nationwide Building Society has made waves in the financial world by announcing its plan to acquire Virgin Money in a groundbreaking £2.9 billion deal. This acquisition is set to challenge the dominance of the UK's big banks, creating the country's second-largest mortgage and savings group. The deal, hailed as one of the largest ever made by a female banker, is a significant move in the financial sector. Although the takeover is expected to bring about positive changes for both companies, concerns have been raised about the potential impact on the workforce.

Roula Khalaf, Editor of the Financial Times, has highlighted the significance of Nationwide's agreement to purchase Virgin Money, emphasizing the strategic implications of the deal. With Nationwide offering 220p per share, major financial institutions like JPMorgan, Goldman Sachs, and UBS have been enlisted to advise on the transaction. The announcement of this acquisition has drawn attention from investors and industry experts, signaling a shift in the financial landscape.

As discussions progress, the proposed merger between Nationwide and Virgin Money is poised to reshape the mortgage and savings market in the UK. While both companies aim to create a formidable partnership, concerns linger regarding the potential for job losses post-merger. The future implications of this deal remain uncertain, with stakeholders closely monitoring the developments in the financial sector.

In a historic move, Nationwide's £2.9 billion bid for Virgin Money represents a significant milestone in the banking industry, showcasing the evolving nature of financial institutions. With the promise of creating a pioneering mortgage and savings entity, this acquisition could mark a new chapter in the financial services sector, setting a precedent for future mergers and acquisitions.

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Image courtesy of "BBC News"

Nationwide strikes deal to buy Virgin Money for £2.9bn (BBC News)

The building society claims it will not make any changes to Virgin's workforce "in the near term".

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Image courtesy of "Reuters"

Nationwide challenges UK's big banks with $3.7 bln Virgin Money bid (Reuters)

Britain's Nationwide Building Society has agreed to buy Virgin Money UK in a potential 2.9 billion pound ($3.7 billion) all-cash deal to create the ...

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Image courtesy of "Financial Times"

Nationwide agrees to buy Virgin Money for £2.9bn (Financial Times)

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Nationwide Building Society has reached a preliminary agreement to buy ...

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Image courtesy of "The Independent"

Nationwide buys Virgin Money in £2.9bn deal takeover by Britain's ... (The Independent)

Proposed purchase of £2.9bn is largest deal ever made by a female banker and will create UK's second-largest mortgage and savings group.

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Image courtesy of "Sky News"

Nationwide agrees terms for £2.9bn takeover of Virgin Money (Sky News)

Should the takeover proceed, it would create the country's second largest mortgage and savings group but may also result in job losses down the line.

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Image courtesy of "Telegraph.co.uk"

Nationwide to buy Virgin Money in £2.9bn deal (Telegraph.co.uk)

Merger to create second-largest mortgage and savings business in Britain.

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Image courtesy of "Mortgage Solutions"

Nationwide agrees £2.9bn Virgin Money takeover - Mortgage ... (Mortgage Solutions)

In an announcement to the London Stock Exchange, both Nationwide and Virgin Money said their boards believed that if the acquisition went ahead it would ...

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Image courtesy of "BBC News"

Nationwide strikes deal to buy Virgin Money for £2.9bn (BBC News)

The building society claims it will not make any changes to Virgin's workforce "in the near term".

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Image courtesy of "Financial News"

JPMorgan, Goldman and UBS advise on Nationwide's £2.9bn Virgin ... (Financial News)

JPMorgan, Goldman Sachs and UBS are advising on Nationwide Building Society's proposed £2.9bn takeover of Virgin Money. Nationwide is offering 220p per ...

TOP NEWS: Nationwide strikes £2.9 billion deal to buy Virgin Money ... (AJ Bell Youinvest)

Virgin Money said should a firm offer be made on the same financial terms it would be 'minded to recommend' it to shareholders. It has the support of the brand ...

<p>Virgin Money customer? You may be moved to Nationwide in ... (MoneySavingExpert)

Virgin Money savers and borrowers could become Nationwide customers in future as the building society is in talks to take over the bank – though it's still ...

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Image courtesy of "Sky News"

Nationwide's Virgin Money takeover shows how incredibly difficult it ... (Sky News)

Hopes were that the big four banks - NatWest, Barclays, HSBC UK and Lloyds Banking Group - would have their grip loosened by the wave of digital-only and ...

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Image courtesy of "The Independent"

What Nationwide's swoop for Virgin Money will mean for you (The Independent)

The move took the City by surprise and is set to catapult Nationwide into second place in the mortgage and savings market. The planned takeover will bring ...

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Image courtesy of "Reuters India"

UK midcap index at 3-month highs as Virgin Money soars (Reuters India)

British midcap stocks rose to fresh three-month highs on Thursday as lender Virgin Money soared on a possible buyout, while pest control firm Rentokil ...

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Image courtesy of "Morningstar"

Nationwide to Buy Virgin Money for £2.9 Billion (Morningstar)

The all-cash offer is worth 220p per Virgin Money share, comprising 218p cash plus a proposed 2p dividend to be paid by Virgin Money prior to completion. Virgin ...

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Image courtesy of "Financial Times"

Nationwide shows challenger banks' failure with cut-price bid for ... (Financial Times)

Given sector consolidation was a virtual certainty and Virgin a decent prize, its board could have driven a harder bargain.

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Image courtesy of "Euromoney magazine"

Is Nationwide's Virgin Money takeover a victory for the branch? (Euromoney magazine)

Thinner margins across the banking industry hit smaller banks harder. But investor pressures are also less of an issue for mutually owned lenders.

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Image courtesy of "IFA Magazine"

Nationwide should approach Virgin Money rebranding with caution ... (IFA Magazine)

Following the news that Nationwide Building Society has agreed to buy Virgin Money UK for £2.9 billion, Phoebe Hodgson, Banking and Payments Analyst.

Nationwide agrees £2.9bn deal for Virgin Money (TechMarketView)

The UK's largest building society, Nationwide, has agreed a takeover deal to acquire Virgin Money for £2.9bn. The transaction will bring together two of the ...

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Image courtesy of "Morningstar"

Nationwide's Bid for Virgin Money - the Morningstar View (Morningstar)

We've raised our fair value estimate for Virgin Money and think the deal is likely to go ahead. But other UK banks may be a cheaper option.

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