Shareholders Urged To Support Takeover

Shareholders in the Alliance and Leicester have received a letter from the chairman highlighting the reasons why accepting the takeover bid from Santander makes good sense.

The main point made by the Alliance and Leicester chairman is that it will protect them from a worsening economic climate and factors that are beyond their control. Taking away these risks must make good sense he goes on to say as it is the shareholders money that could be at stake if the situation worsens.

The size of the operation should the Alliance and Leicester takeover go ahead would certainly mean they could deal with most situations. The proposed new operation would manage approximately 10 percent of all UK current accounts, making them a dominant force in the market.