View more on these topics

Clydesdale bids for Williams & Glyn


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.



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 […]


Santander makes formal offer for Williams & Glyn

Santander has made a formal offer to buy Williams & Glyn from RBS, according to Sky News. Santander is looking to transfer over all the Williams & Glyn assets, including its 314 branches, 3,000 customers, loan book and deposit book. The Treasury has reportedly been told about the offer. The Government is forcing RBS to […]


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

RBS has made a loss of £968m in the first quarter of 2016 after a £1.2bn dividend payment to the government. If the £1.2bn figure is removed then RBS made a pre-tax profit of £421m, up from £37m in Q1 2015. The bank also announced it was delaying plans to sell Williams & Glyn. The […]


News and expert analysis straight to your inbox

Sign up