ON THE UP: NatWest

Saturday 25 September 1999 19:02 EDT

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

SHARES in National Westminster soared 24 per cent on Friday after a surprise bid by its smaller Scottish rival, Bank of Scotland, which valued the UK bank at pounds 21bn. A takeover would create Britain's second- largest banking group.

Bank of Scotland has a market value about half that of NatWest, but says it will wring more profit from NatWest than the bank can under its own plan to buy insurer Legal & General. It is taking advantage of investors' concern that the bid for Legal & General is too expensive. NatWest rejected the offer as undervaluing the bank.

Many investors now expect that a rival bid could emerge for both NatWest and Legal & General as consolidation in the industry gathers pace.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Stay up to date with notifications from The Independent

Thank you for registering

ON THE UP: NatWest

Join our commenting forum

Thank you for registering