Northern Rock board submits revised buyout offer: officials
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The board of Northern Rock has submitted a revised offer to buy out the troubled British bank, upping the amount of money it is prepared to pump in, it said Friday.
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Business & money: Â· Group in talks with banks as deadline loomsÂ· Only increased offer will win over Rio Tinto board
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Northern Rock Chairman Matt Ridley has resigned from his post and will be replaced by Bryan Sanderson.
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The Virgin consortium has been told it  is the front-runner to rescue ailing British bank Northern Rock  Plc  but it needs to improve its offer over the  alternative of nationalization, a person familiar with the  matter said.
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The Bank of England has offered an emergency loan to Northern Rock after the mortgage lender became the biggest British casualty of the credit squeeze sparked by the crisis in the U.S. subprime mortgage market.
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Virgin may sweeten its offer for Northern Rock as the government is set to unveil a plan to secure a private sale.
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The British government deepened its involvement in Northern Rock on Tuesday, offering to guarantee more of the stricken mortgage bank's liabilities as it battles to find a private-sector buyer.
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Government financing triggers move but Treasury says Northern Rock has not been nationalised
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LAS VEGAS -- Station Casinos Inc.'s board of directors has accepted a revised buyout offer from its founding family and a unit of the real estate firm Colony Capital LLC for about $5.5 billion, people familiar with the matter said yesterday.
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The Bank of England was authorized to provide a âliquidity support facilityâ to Northern Rock, prompting a sell-off of British bank stocks.
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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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The British government said on Tuesday it was extending guarantee arrangements for Northern Rock  to cover some unsubordinated wholesale obligations of the stricken bank, whether existing now or in the future.
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Potential purchasers of Northern Rock will have until February 4 to make a bid to the government
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The board of embattled Northern Rock PLC faced shareholders Tuesday amid growing speculation that Britain's biggest casualty of the global credit crisis will be nationalized.
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The government faces calls to overhaul the way banks are monitored after a report into the  Northern Rock crisis.
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Northern Rock confirms that it will not pay its dividend and says it is in talks to sell some or all of the bank.
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Barclays  is planning to  sweeten its offer for ABN AMRO  after a consortium of  rivals led by Royal Bank of Scotland  revised its bid  for the Dutch bank, the Financial Times said on Tuesday.