Norwich & Peterborough Building Society (N&P) has admitted receiving a number of approaches from rivals this year keen to take over the firm, or take a significant stake.
In a statement this afternoon the building society said it was keeping the offers "under review". Yorkshire Building Society is rumoured to be one of those which have approached N&P. It bought Chelsea, the UK's fifth biggest building society, earlier this year. N&P chief executive Matthew Bullock has already said US private equity fund JC Flowers has been in touch. The US company has already promised to pump £50m into Kent Reliance Building Society. "Like other responsible organisations, the board continually keeps under review, with its long-standing advisers, Fenchurch, all op...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes