Abbey National could face opposition to A&L takeover

Abbey National, which has said it wants to buy smaller rivals, may face opposition if it tries to purchase takeover candidate Alliance & Leicester, shareholders said. Alliance & Leicester shares rose 12% to 6 January since 24 December on speculation a rival may try to buy the UK's seventh-largest mortgage lender. The company, with a market value of £4.4bn, is vulnerable because it hasn't had a chief executive since 1999, it missed a revenue target last year, and loses protection from hostile bids in April, analysts said. London-based Abbey National, which according to one national newsp...