Banking
David Duffy to step down as Virgin Money chief in proposed £2.9bn takeover
Nationwide has made a 220p-a-share firm offer for Virgin Money
David Duffy, the former AIB chief and the reigning boss of Virgin Money, is set to step down as leader of the British lender after it agreed a £2.9 billion takeover deal with Nationwide Building Society.
Nationwide has made a 220p-a-share firm offer for Virgin Money, including a planned 2p-per-share dividend payout, which will now be voted on by Virgin Money shareholders.
Confirmation of the deal comes after the two companies reached a preliminary agreement ...