FSA approves Stroud & Swindon/Coventry merger

Coventry, the UK's third-largest building society, announced in March it had agreed merger terms with Stroud & Swindon, the nation's 11th largest society. Stroud and Swindon's members voted in favour of the deal in June, with 88.8% of the Society's savers and 89.5% of borrowers giving the go-ahead. The FSA noted, however, a failure by Stroud & Swindon to give notice of the special general meeting (SGM) to 60 eligible voters following an investigation. "The position was clarified too late to send these 60 shareholding members notice of SGM or voting papers," the regulator said. T...