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Article: When Royal Bank and Midshires agreed deal, it was all smiles. Then the Halifax crashed the cosy party
- Article from:
- The Scotsman
- Article date:
- March 10, 1998
- Author:
CopyrightCopyright 1998 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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THE EXECUTIVES of the Royal Bank of Scotland presumed it was all
in the bag. The Edinburgh-based bankers would soon have a well-
established Middle England building society which would nicely
complement the successful expansion of one of Scotland's leading
companies. Last August Mike Jackson, the chief executive of
Birmingham and Midshires Building Society, was delighted to pose for
pictures with the Royal Bank's chief executive, Dr George Mathewson,
in London, after an acquistion was agreed. Without counting
chickens, it looked as if the building society's mutual members
could
eventually be persuaded too.
But now the Royal Bank has ruled itself out of a bidding auction
by refusing to offer ...