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07/10/2002
Bank of Ireland confirms overtures to Abbey National
Bank of Ireland have confirmed a takeover of Abbey National is on the cards.
A statement made to the London stock exchange confirmed earlier weekend press reports that while no formal discussions had yet taken place, the Bank of Ireland had expressed an interest in a possible merger.
A merger would mean the creation of Europe's 12th largest banking organisation with a combined value put at around £15 billion to £18 billion. The Bank of Ireland proposals would see the Dublin-led company have its main listing on the London stock markets.
While the Abbey National in effect remains rudderless since the departure of Chief Executive Ian Harley who stepped down from his post in September, Abbey's shares showed a marked recovery on confirmation of the Bank of Ireland statement.
Mr Harley left just one month after a profits warning from the UK's second top mortgage lending institution group in August. The Abbey group had revised profits after a series of bad loans in the wholesale banking division had seen high-level executives leave the company. Speculation at that time was rife that Abbey's low share price made the group a prime target for a takeover bid.
Market analysts anticipate a hostile takeover bid and say that the Bank of Ireland is only one of an array of suitors. With Abbey's shares hitting a seven-year low last week, Abbey's continued weak market position makes a hostile takeover bid all the more likely.
(SP)
A statement made to the London stock exchange confirmed earlier weekend press reports that while no formal discussions had yet taken place, the Bank of Ireland had expressed an interest in a possible merger.
A merger would mean the creation of Europe's 12th largest banking organisation with a combined value put at around £15 billion to £18 billion. The Bank of Ireland proposals would see the Dublin-led company have its main listing on the London stock markets.
While the Abbey National in effect remains rudderless since the departure of Chief Executive Ian Harley who stepped down from his post in September, Abbey's shares showed a marked recovery on confirmation of the Bank of Ireland statement.
Mr Harley left just one month after a profits warning from the UK's second top mortgage lending institution group in August. The Abbey group had revised profits after a series of bad loans in the wholesale banking division had seen high-level executives leave the company. Speculation at that time was rife that Abbey's low share price made the group a prime target for a takeover bid.
Market analysts anticipate a hostile takeover bid and say that the Bank of Ireland is only one of an array of suitors. With Abbey's shares hitting a seven-year low last week, Abbey's continued weak market position makes a hostile takeover bid all the more likely.
(SP)
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08 October 2002
Abbey National rejects BoI takeover approach
The Abbey National has rejected a planned takeover approach from the Bank of Ireland. In a statement to the London Stock Exchange, Abbey said its board members had unanimously concluded that the proposal was not in the best interests of its shareholders.
Abbey National rejects BoI takeover approach
The Abbey National has rejected a planned takeover approach from the Bank of Ireland. In a statement to the London Stock Exchange, Abbey said its board members had unanimously concluded that the proposal was not in the best interests of its shareholders.
11 July 2023
Muckamore Abbey Hospital To Close In June 2024
Muckamore Abbey Hospital in County Antrim will close in June 2024, dependent on all remaining Muckamore patients having been appropriately resettled in community settings, the Department of Health (DoH) has announced.
Muckamore Abbey Hospital To Close In June 2024
Muckamore Abbey Hospital in County Antrim will close in June 2024, dependent on all remaining Muckamore patients having been appropriately resettled in community settings, the Department of Health (DoH) has announced.
29 October 2024
Seven More People Prosecuted In Relation To Muckamore Inquiry
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06 June 2024
Muckamore Abbey Hospital Closure Date Extended
The planned closure date for Muckamore Abbey Hospital has been extended, the Department of Health has announced. A target closure date of June 2024, set last year, was dependent on all the remaining patients successfully transitioning to agreed alternative accommodation placements in the community.
Muckamore Abbey Hospital Closure Date Extended
The planned closure date for Muckamore Abbey Hospital has been extended, the Department of Health has announced. A target closure date of June 2024, set last year, was dependent on all the remaining patients successfully transitioning to agreed alternative accommodation placements in the community.
25 October 2022
Consultation Launches On Proposed Closure Of Muckamore Abbey Hospital
A public consultation on the proposed closure of Muckamore Abbey Hospital has been launched by Health Minister Robin Swann. The Minister emphasised that closure, if approved after public consultation, would be on a carefully planned and phased basis, with intensive engagement with patients and families.
Consultation Launches On Proposed Closure Of Muckamore Abbey Hospital
A public consultation on the proposed closure of Muckamore Abbey Hospital has been launched by Health Minister Robin Swann. The Minister emphasised that closure, if approved after public consultation, would be on a carefully planned and phased basis, with intensive engagement with patients and families.
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
