Alliance & Leicester a likely takeover target

Professional Adviser
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Alliance & Leicester (A&L) may be more susceptible to a takeover than rival Northern Rock as both Br...

Alliance & Leicester (A&L) may be more susceptible to a takeover than rival Northern Rock as both British mortgage lenders lose their protection from hostile bids this year, investors and analysts warn. The housing giants may be attractive to a rival wanting a bigger slice of Britain's £577bn mortgage market. Larger banks may try to buy either company without drawing opposition from UK regulators. Alliance & Leicester, which has been without a chief executive officer for two years, suffered a first-half profit decline and in November cut a target for how much it planned to boost revenue...

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