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Clydesdale bids for Williams & Glyn

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Clydesdale has made a last-minute bid to buy Williams & Glyn from Royal Bank of Scotland, according to the Financial Times.

Clydesdale says it has made a “preliminary non-binding proposal” for Williams & Glyn.

RBS wants to get a sale agreed in principle by the end of 2016. The firm needs to sell the 300-branch business by the end of 2017 under the terms of its bailout.

Last month Santander pulled out of the deal talks due to not agreeing on a price.

The Williams & Glyn business is valued at around £1.3bn.

W&G will have 1.8 million customers, net loans and advances worth £20bn and customers deposits of £24bn.

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Santander pulls out of Williams & Glyn sale

Santander has pulled out of talks with Royal Bank of Scotland to buy more than 300 Williams & Glyn branches, according to the Financial Times. The talks fell through due to RBS asking for more money than Santander were willing to pay. Interested bidders are BBVA, Secure Trust and Virgin. The network has been valued […]

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Santander makes formal offer for Williams & Glyn

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RBS makes £968m loss and delays Williams & Glyn sale

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