Market Update Economic Events Directors Deals Commodities Prices News Market Movers

M&G to vote against Non-Standard Financial bid for Provident Financial

Tuesday, 28th May 2019
Sub-prime lender Provident Financial confirmed that investor M&G had decided not to accept Non-Standard Financial's hostile takeover bid for the company.

Provident Financial said shareholders of around 20.2% of its shares had publicly stated that they did not intend to accept the bid.

'M&G is supportive of PFG's current strategy and does not believe that a combination with NSF and subsequent break up of the enlarged group will create value for PFG shareholders, and therefore is not in the best interest of our investors,' M&G said in a letter published by Provident Financial.

M&G currently held a 1.7% stake in the company.


Story provided by

Related Shares: Provident Fin.

Share Search
Share Search Share Search

Visit the Share Search.
Share Search

Share News
Share News will do their best to ensure the quality of the information displayed on this site, but all information is provided as-is, free of charge. We cannot be held responsible for any loss, material or otherwise, due to incorrect information found here. UK data supplied by NBTrader and Digital Look. Share Prices are at least 15 minutes delayed.