Qualified advisers answering your
Financial Questions
call 0800 092 1245

A&L deal gains shareholder approval

A big majority of Alliance & Leicester (A&L) shareholders have approved the firm's takeover by Santander.The £1.5 billion merger was voted for by around 85 per cent of the investors at an extraordinary general meeting in Birmingham yesterday.Only High Court approval, scheduled for early next month, now stands in the way of the deal.Santander, a Spanish financial services group, already owns mortgage lender Abbey in the UK.It is currently unclear whether or not A&L will retain its branding after the takeover.Roy Brown, the mortgage firm's acting chairman, said: "We welcome our shareholders’ approval of the offer from Santander, which was unanimously recommended by the Board of Alliance & Leicester. "The economic outlook and continuing uncertainty in financial markets have reinforced the Board's view that this transaction is in the best interests of shareholders, customers and other stakeholders."

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details