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Market Update : 
Santander Resuces A&L for £1.26 B
Author: 123jump.com Staff
123jump.com
Last Update: 1:58 PM EDT July 14 2008



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The largest euro zone bank Santander offered to purchase Alliance & Leicester for 317 pence per share. The deal values the company at 1.26 billion pounds and includes an interim dividend of 18 pence to shareholders. Santander returned to purchase the troubled UK lender at a lower price after three months as credit market weakness have persisted and A&L trades at nearly 50% lower price. The deal is fraught with risks at UK economy slows down and credit market remain jittery.

 

 

 

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