Virgin Money’s Acquisition by Nationwide Approved

Virgin Money UK (GB:VMUK) has released an update.

Virgin Money UK PLC is set to be acquired by Nationwide Building Society through a cash acquisition, which has been unconditionally approved by the UK Competition and Markets Authority following a Phase 1 investigation. The completion of the acquisition is contingent upon fulfilling the remaining conditions, including approvals from the Prudential Regulation Authority, the Financial Conduct Authority, and the Court’s sanction. Subject to these conditions being met, the deal is expected to be finalized in the fourth quarter of 2024.

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