TSB prepared to back £1.7bn takeover

By The Newsroom
Published 12th Mar 2015, 09:34 BST
TSB received a takeover approach from Spain's Sabadell valuing the UK bank at 1.7 billion.TSB received a takeover approach from Spain's Sabadell valuing the UK bank at 1.7 billion.
TSB received a takeover approach from Spain's Sabadell valuing the UK bank at 1.7 billion.
TSB is set to fall into Spanish hands after the UK challenger bank said it was prepared to back a takeover offer valuing the business at £1.7 billion.

The proposal from Banco de Sabadell comes less than a year after TSB rejoined the London stock market in a split from Lloyds Banking Group.

TSB said its board was minded to back Sabadell’s 340p-a-share offer and added that its ownership would help accelerate TSB’s growth strategy.

Related topics:TSBLondonLloyds Banking Group