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Foundation moves to protect stake in parent company
By Helen Warrell, Third Sector Online, 5 October 2007
The Northern Rock Foundation has appointed financial advisers to protect its 15 per cent stake in its troubled parent company, should the bank be taken over.
The foundation, which is the largest shareholder in Northern Rock, has commissioned corporate finance consultants Europa Partners to advise it on how to proceed. As a precautionary measure, the foundation is contacting other shareholders to emphasise that any offer for the bank should be “fair and reasonable”. Letters will also...
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