UK subprime M&A party closed to gatecrashers, says aimeedonnellan:
Non-Standard Finance said on April 2 it had the backing of the holders of just over 50 percent of shares in Provident Financial for its 1.2 billion pound bid.
The bid has the support of fund managers Woodford Asset Management, Invesco and Marathon Asset Management, who together hold 49 percent of Provident. The three also own more than 50 percent of NSF.NSF has offered 8.88 of its shares for each Provident Financial share. NSF shares closed at 52.6 pence on April 12, while Provident Financial shares closed at 522 pence.
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