Aberdeen Standard Investments (ASI) is the latest to criticise a planned £1.3bn takeover bid of Provident Financial by its former chief executive John van Kuffeler and his firm Non-Standard Finance.
ASI, which owns a 3.1% stake in Provident Financial, has said it will reject the deal, according to The Times. Describing the takeover bid as not a "good deal", Andrew Millington, head of UK equities at ASI, said the firm was also "unhappy that NSF has brought forward the deadline for shareholders to accept the bid to this week, before the Competition & Markets Authority [CMA] releases the outcome of its review". The CMA announced late in May its intention to launch an investigation into the potential impact of a merger on the lending market. ASI is the latest Provident Financial s...
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