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Article: End in sight to Midshires deadlock; Royal Bank of Scotland ready to compromise over rival Halifax bid.
- Article from:
- The Birmingham Post (England)
- Article date:
- March 12, 1998
CopyrightCOPYRIGHT 1998 Birmingham Post & Mail Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Royal Bank of Scotland looked close to throwing in the towel last night in its fight to take over the Birmingham Midshires building society.
It said it was prepared to compromise over a sticking point which prevents Midshires members voting on a higher offer tabled by rival bank the Halifax.
But Midshires chief executive Mr Mike Jackson is unlikely to shed too many tears if he loses his promised seat on the Royal Bank board of directors - a Halifax takeover could leave him with more than pounds 400,000 in compensation instead.
The Halifax ...