NRock shareholders 'to get nothing'

In a statement yesterday, Chancellor Alistair Darling revealed he rejected private bids as they didn’t “protect the taxpayers' interest” and said he plans to nationalise the bank. However, Northern Rock shareholders are threatening legal action as shares in the beleaguered lender were suspended this morning following the Government’s nationalisation plan. The UKSA says: "The Government has already made it clear that shareholders will receive no compensation for the value of their shares as they have set the terms of reference for an independent valuation to be on the basis that the Gover...