One of Provident Financial’s biggest shareholders has said it will not accept a takeover offer for the doorstep lender from smaller rival Non-Standard Finance.
Aberdeen Standard Investments, which owns a 3.1pc stake in Provident, said it did not intend to accept the offer even though more than 50pc of investors had backed the deal.
Woodford Investment Management, Marathon and Invesco have all supported offer. All three are investors in NSF and together hold more than 50pc of Provident’s shares.
Aberdeen’s head of UK equities, Andrew Millington, said he did not believe it was a good deal for either side.
“We’re also unhappy that NSF has brought forward the deadline for shareholders to accept…
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