| Target: | ABBEY NATIONAL PLC | SIC Codes: | 6021 0 0 0 0 |
| Country: | United Kingdom | Industrial Sectors: | Banks (Retail) |
| Activities: | COMMERCIAL & RETAIL BANKING | ||
| Bidder: | LLOYDS TSB GROUP PLC | ||
| Country: | United Kingdom | SIC Codes: | 6021 0 0 0 0 |
| Activities: | COMMERCIAL & RETAIL BANKING | ||
| Date Announced: | 2001/01/31 | Date Completed: | 2001/07/10 |
| Deal Status: | Failed | Deal Type: | Public |
| Deal Attitude: | Hostile | Cross Border: | No |
| % Capital Owned: | 0 | % Capital Bid For: | 100 |
| Competitive Status: | Single bidder | ||
| Regulatory Referral: | Referred and failed | ||
| Consideration Type: | Cash plus Ordinary Shares or Partial Loan Note Alternative | ||
| Deal Value (m) | Rate to STG 1.000 | Target Financials (m) | Rate to STG 1.000 | ||
| UK Sterling | UK Sterling | ||||
| Ordinary Offer Value | 19474.935 | Bank Earnings | 1327 | ||
| Other Equity Value | 450.000 | Shareholders Funds | 6830 | ||
| Total Equity Value | 19924.935 | Risk Weighted Assets | 81201 | ||
| Minorities | 664 | Tier 1 Ratio | 8.9 | ||
| Total Equity Value + Minorities | 20588.936 | Total Capital Ratio | 13.5 | ||
| Deal Ratios | Performance Ratios | |||||||
| Price/Bank Earnings | 15.015 | Cost/Income Ratio | 46.414 | Net Interest Margin | 1.61 | |||
| Price/Book | 2.92 | Interest Income Ratio | 62.413 | Return on Assets | 0.649 | |||
| Bad Debt Ratio | 0.321 | Return on Avg. Assets | 0.69 | |||||
| Return on Equity | 20.799 | Return on Avg. Equity | 22.1 | |||||
| Accounts Source: | ABBEY NATIONAL 2000 ANNUAL REPORT | Reliability: | Audited |
| Deal Value Source: | BIDDER PRESS RELEASE (31/01/2001) | Reliability: |