Update: CMA to investigate takeover bid for Provident Financial
Non-Standard Finance
Provident Financial
Subprime lender Provident Financial has rejected a takeover approach by rival Non-Standard Finance (NSF), labelling the proposal as "opportunistic" and "irresponsible", while the Competitions & Markets Authority (CMA) has said it will investigate.
Last Friday, NSF, led by former Provident CEO John van Kuffeler, made a £1.3bn offer for Provident, the firm's second in just over a year. However, Provident said the offer "could have a negative and...
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