March 11, 2019 / 7:22 AM / 9 days ago

Challenger banks Charter Court, OneSavings confirm merger talks

March 11 (Reuters) - British online mortgage bank Charter Court Financial Services and OneSavings Bank Plc are in advanced discussions regarding a possible all-share combination, the companies said in a statement.

Under the terms of the proposed deal, OneSavings will buy all of Charter Court’s shares for 0.8253 new OneSavings shares for each Charter Court share, whose biggest investor is Elliott Management. (Reporting by Noor Zainab Hussain in Bengaluru Editing by Saumyadeb Chakrabarty)

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