M&A returns with deals worth more than £2bn - News Summed Up

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M&A returns with deals worth more than £2bn

M&A is back, or at least that is what it feels like this morning. After a lull in takeover activity with Brexit on the horizon, two significant deals have been announced. First, Non-Standard Finance, the sub-prime lender, has made a £1.3 billion offer for larger rival Provident Financial. The deal would be an all-share reverse takeover and see John van Kuffeler, the founder and chief executive of NSF, retake control of Provident, a company he ran for 22 years as chief executive and then chairman. It is the second biggest provider of guarantor loans behind Amigo and also offers branch-based loans of up to £1,000 as well as loans at home.

Source: The Times February 22, 2019 09:00 UTC