Business Services Industry
Royal Bank of Scotland May Launch Bid for Allied Irish Banks.
Knight Ridder/Tribune Business News, February, 2002
Daily Mail, London Knight Ridder/Tribune Business News
Feb. 26--Royal Bank of Scotland shares soared 58 pence to 1743 pence in the run-up to its full-year results this week amid speculation that it will launch a bid for troubled Allied Irish Banks. RBS, led by chief executive Fred Goodwin, ran its slide rule over AIB before the recent revelations of the UKpound 487 million losses by foreign exchange trader John Rusnak at the Irish bank's US division, Allfirst.
Broker Teather & Greenwood expects RBS to make UKpound 5.64 billion profit, up from UKpound 4.4 billion last year. Excitement mounts over whether it will pounce on a weakened AIB, up 18 pence to 793 pence.
Goodwin was rumoured at the weekend to be mulling an UKpound 8 billion bid....
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