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Abbey, Scotland Bank End Talks
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BRYAN BRUMLEY, AP Business Writer
AP Online
02-28-2001
Abbey, Scotland Bank End Talks
LONDON (AP) -- Abbey National PLC said Wednesday it has called off merger talks with the smaller Bank of Scotland PLC because of uncertainty surrounding another bank's bid for Abbey.
The third bank, Lloyds TSB Group PLC, made an unsolicited bid of 17 billion pounds ($24.5 billion) for Abbey in December. More recently, Lloyds made a conditional offer for Abbey $29 billion on Jan. 31.
Abbey officials said they were deferring consideration of the Lloyds bid pending outcome of a review by the government's ...
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