Its shares gain ground as a hostile takeover attempt by Non-Standard Finance is batted away
Thursday 06 Jun 2019 Author: Tom Sieber
At 502.6p shares in sub-prime lender Provident Financial ( PFG ) may be in recovery mode after it successfully fought off a hostile takeover by smaller rival Non-Standard Finance ( NSF ) but there are several reasons why investors should not get carried away. Non-Standard is walking away having failed to secure the regulators’ approval for the deal. However, there remain question marks over Provident’s dividend, particularly given the...