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Provident Again Assails NSF's £1.3B Unsolicited Takeover Bid

Law360 (March 6, 2019, 9:42 PM EST) -- Provident Financial PLC on Wednesday reiterated its disdain for Non-Standard Finance's unsolicited, all-share offer that values the lender at roughly £1.3 billion ($1.7 billion) and said it has resolved the regulatory issues with the Financial Conduct Authority that NSF mentioned in its offer.

In the statement, the lender not only discounted U.K.-based consumer finance company Non-Standard Finance PLC's concerns about Provident's regulatory issues but again assailed the offer it said was rife with "major strategic flaws." Provident also said the offer "appears to be based upon a misguided view that the regulatory approach to Provident would be different if the group...

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