Updated: CYBG’s takeover deal with Virgin Money could lead to Yorkshire Bank vanishing from high street

CYBG has reached a takeover deal with Virgin Money that might lead to the Yorkshire Bank name vanishing from the high street.
The owner of the Clydesdale Bank, Yorkshire Bank and B brands said the terms of the agreement will see each Virgin Money share exchanged for 1.2125 shares in the new combined group, which will gradually be re-branded under the Virgin Money banner.
The deal values each Virgin Money share at around 371p and the entire group at £1.7 billion. It is also expected to lead to around 1,500 job losses.
CYBG’s David Duffy will stay on as chief executive, leaving Virgin Money... read more

 
18 June 2018 in Yorkshire & Humber, Views: 40
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