Alliance & Leicester reports 1.26-billion-pound takeover offer

0 Comments | AFP, July, 2008

LONDON (AFP) — British bank Alliance & Leicester said Monday it was in advanced discussions on a takeover worth 1.26 billion pounds (1.57 billion euros, 2.5 billion dollars) but did not name the suitor.

The news sent the bank's share price rocketing by 43.1 percent to 313.75 pence in early morning London trade.

"Alliance & Leicester confirms that it is at an advanced stage of discussions regarding a possible offer at an offer price of 299 pence per share together with the right to receive an interim dividend of 18 pence per share," the group said in a statement.

"This announcement has not been made with the consent of the potential offeror and there can be no certainty that an offer will be forthcoming or as to its terms.

"A further announcement will...