Trio set to make offers for Northern Rock
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Billionaire Richard Branson, banker  Luqman Arnold and an in-house management team are set to pitch  formal offers for Britain's Northern Rock Plc  on  Monday, the government's deadline for bids.
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Billionaire Richard Branson, banker Luqman Arnold and an in-house management team are set to pitch formal offers for Britain's Northern Rock Plc  on Monday, the government's deadline for bids.
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Goldman Sachs , hired to help arrange financing to rescue Northern Rock , is now seeking investors in China and the Middle East to help fund a takeover, a source familiar with the situation told Reuters.
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The government is to offer more financial support to private sector Northern Rock buyers.
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A deadline on private bids for Northern Rock, the bank almost ruined by the squeeze on global credit, was to expire on Monday amid speculation that three proposals will be made to the board.
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Virgin Group and up to two other bidders are expected to meet a Monday deadline for Northern Rock offers.
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The future of ailing British bank Northern Rock -- including possible nationalisation -- is to be decided in the next six weeks, finance minister Alistair Darling said in an interview out Saturday.
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Peers are expected to clash over Northern Rock amid claims its best assets have been 'hived off' to a private firm.
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A European banking consortium led by Royal Bank of Scotland will present a formal takeover offer for Dutch bank ABN Amro on Monday, the chairman of ABN said on Friday.
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Newcastle&#039;s John Hall, who holds the major stake in the Premiership club, said he has been approached by a third party who wants to buy his shares.
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Northern Rock is likely to be grilled by shareholders over its sale process at a key meeting later on Tuesday.
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Britain has received a report from U.S. investment bank Goldman Sachs on options for the troubled Northern Rock bank and is talking to potential buyers about them, Prime Minister Gordon Brown said on Saturday.
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A bidding consortium led by the Royal Bank of Scotland is expected to give some insight as to whether it will go ahead with a rival offer.
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Britain deepened its involvement in stricken mortgage bank Northern Rock  on Tuesday, offering to guarantee more of its liabilities as the struggle to find a private sector acquirer for the business continues.
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The chancellor is to announce plans to make way for a private sector buyout of Northern Rock.