Nationwide offers to acquire Virgin Money UK in £2.9b deal

The UK’s largest building society Nationwide has agreed to buy Virgin Money UK in a potential 2.9 billion-pound all-cash deal, according to its statement on Thursday.

has a history of successful acquisitions

The potential acquisition would enhance Nationwide strategy, offering a wider range of products and services, including business banking. “We remain committed to our mutual ownership model and providing fairer banking to our members,” the company said.

“This marks another exciting chapter in our history, there is more work to be done and there is no guarantee that we will make a firm offer, nor that it would be accepted by Virgin Money’s shareholders,” the statement added.