IFLR1000

Non-Standard Finance £1.3 billion hostile bid for Provident

22/2/2019
Private acquisition
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£ 1.3 billion

$ 1.732 billion

Announced

22/2/2019

Overview:

  • Non-Standard Finance (NSF) has made a hostile bid for finance firm Provident Financial.
  • The £1.3 billion bid would see Provident shareholders get 8.8 NSF shares for each Provident share.
  • The bid comes after a share price drop and profit warnings for Provident.

Jurisdiction:

United Kingdom

Deal type:

Private acquisition

Practice area:

M&A

Industry sector:

Financial services

Firms:
Clifford Chance

Party: Provident Financial (Target)

Slaughter and May

Party: Non-Standard Finance (NSF) (Bidder)

Lawyer: Paul Mudie

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