Accountancy

Virgin Money UK agrees potential £2.9bn takeover by Nationwide

Virgin Money UK agrees potential £2.9bn takeover by Nationwide
Photo: Giannis Alexopoulos/Getty Images

Virgin Money UK agreed on the terms of a potential takeover by Nationwide Building Society, in a cash deal that values the London-listed group at around £2.9bn.

The financial services company on 7 March said that the proposed acquisition — under which shareholders would get 220p a share in cash — represents a 38% premium to the stock's closing price of 159.05p.

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