The deal won approval of 89% of voting shareholders, with Richard Branson to get a £724m windfall from sale to UK building society
Virgin Money shareholders have voted in favour of a £2.9bn takeover by rival lender Nationwide Building Society, helping clear the path for the biggest UK banking deal since the financial crisis.
Just over 89% of voting shareholders said yes to the deal at a general meeting on Wednesday, while nearly 11% shot down the acquisition. The resolution required at least 75% backing to pass.
Continue reading…The deal won approval of 89% of voting shareholders, with Richard Branson to get a £724m windfall from sale to UK building societyVirgin Money shareholders have voted in favour of a £2.9bn takeover by rival lender Nationwide Building Society, helping clear the path for the biggest UK banking deal since the financial crisis.Just over 89% of voting shareholders said yes to the deal at a general meeting on Wednesday, while nearly 11% shot down the acquisition. The resolution required at least 75% backing to pass. Continue reading…