Virgin Money Shareholders Vote for Nationwide Takeover by Big Majority

Wednesday, 22 May 2024, 17:30

The deal worth £2.9bn has received approval from over 89% of voting shareholders, with Richard Branson set to gain a £724m windfall. This acquisition paves the way for the largest banking transaction in the UK post the financial crisis. With nearly 11% opposing the move, the resolution met and surpassed the 75% threshold for approval.

https://store.livarava.com/2619d311-1897-11ef-a3d3-9d5fa15a64d8.jpg — Virgin Money Shareholders Vote for Nationwide Takeover by Big Majority

Virgin Money Shareholders Approve Nationwide Takeover

The acquisition deal worth £2.9bn has received strong backing with over 89% of voting shareholders voting in favor. This news positions Richard Branson for a £724m windfall from the sale. The resolution, which required a minimum of 75% backing to pass, saw almost 11% of shareholders against the move.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Virgin Money Shareholders Approve Nationwide Takeover

Related posts