UK challenger bank in £1.1bn takeover

Bank's board accepts takeover offer from South African peer
Thursday 09 Nov 2017 Author: David Stevenson

Financial services group Aldermore (ALD) has agreed the terms of a £1.1bn takeover offer by South Africa’s FirstRand.

The deal values the bank at 313p per share and is priced at a 22% premium to the price on the day before takeover talks were revealed on 12 October.

Since the confirmation on 6 November, Aldermore’s shares have crept up and at time of writing are near FirstRand’s offer price.

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