Aldermore Bank confirmed on Friday it is in preliminary talks with South Africa’s biggest lender by value, FirstRand, about a possible offer for the British bank.
Aldermore, launched in 2009 by a former Barclays executive with backing from private-equity firm AnaCap, said it had recently received an “indicative proposal” for 313 pence per Aldermore share in cash.
“Board of Aldermore has indicated to FirstRand that it is likely to recommend a firm offer at this (313 pence) level,” it said in a statement.
Aldermore’s shares surged after the announcement and are trading at 303p this morning, after a 15.7 % leap on Friday to 296.7.
On Friday, Aldermore said: “There can be no certainty that any firm offer will be made or as to the terms on which any offer might be made. This announcement has been made without the consent of FirstRand and the Board will keep shareholders updated as appropriate.”
Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media.
She has an MA in Radio from Goldsmiths after gaining a 2:1 in a Comparative American Studies BA at Warwick University. She also holds a TEFL qualification and taught overseas in Mexico and Japan from 1994 to 1997.
Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews.
Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B). Here is one of the award-winning pieces: https://www.mortgagesolutions.co.uk/news/2011/07/21/exclusive-tale-bailey-fraud-witness/
Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today as well as a stint freelancing for a variety of outlets including The Guardian and Which? Money.
