You are here: Home - News -

Aldermore in buyout talks with FirstRand

  • 16/10/2017
  • 0
Aldermore in buyout talks with FirstRand
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.”

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
The top ten stories this week on Mortgage Solutions – 13/10/2017

Our biggest stories are a varied lot this week from a pair of Gloucester fraudsters to the Mortgage Trust rebrand...