Provident Financial suitor Non-Standard Finance has said it has secured commitments for its £1.3 billion hostile takeover representing just over half of shares in the doorstep lender. Provident Financial suitor Non-Standard Finance has said it has secured commitments for its £1.3 billion hostile takeover representing just over half of shares in the doorstep lender. NSF chief executive John van Kuffeler said: “We are delighted to have received acceptances for a majority of Provident’s shares. In a separate announcement on Tuesday, Provident also said its chief financial officer, Simon Thomas, would take up to three months’ leave from April 5 for heart surgery. He added: “As the deal isn’t a scheme of arrangement, NSF does not need acceptances greater than 75%, ideally greater than 90%.”Press Association

Source: Irish Independent April 02, 2019 07:30 UTC