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Article: City: Final round at NatWest rant Ringshaw describes the pitched battle between Bank of Scotland and Royal Bank, which is going to the bell
- Article from:
- The Sunday Telegraph London
- Article date:
- November 28, 1999
- Author:
CopyrightCopyright 1999 The Sunday Telegraph London. Provided by ProQuest LLC. (Hide copyright information)
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Ever since the Bank of Scotland launched its dramatic bid for
National Westminster, the Royal Bank of Scotland, its 300-year-long
rival, has been watching intently on the sidelines.
The Sunday Telegraph revealed its interest only days after the
BoS bid and soon after the Royal Bank was listed as a possible
counter-bidder by the Takeover Panel. Royal Bank hired Goldman Sachs
and Merrill Lynch to put the deal together but since then it has
laid low, popping up only to ask the Office of Fair Trading to
examine the competition aspects of a NatWest/Royal Bank merger.
Late on Friday night Royal Bank broke cover and began full
takeover talks with its English target. Last night those talks