surely BB on the takeover watch list currently todays news near to years
low with 8% yield bit of a no brainer.............

BB. has something to hide...


Bradford & Bingley denies Cowdery access to books for due diligence - report
AFX

LONDON (Thomson Financial) - Bradford & Bingley Plc. on Wednesday night denied entrepreneur Clive Cowdery access to its books to carry out due diligence as part of his proposed rescue plan for the embattled mortgage lender, the Financial Times reported.

The board of Bradford & Bingley met on Wednesday to discuss new proposals put forward by Cowdery's investment vehicle Resolution which would see 400 million pounds being injected into the mortgage lender.

The board rejected Cowdery's request to carry out due diligence because of the additional uncertainty and delay his proposal would create, the paper said.

Resolution's proposal rejected on Tuesday would have usurped Texas Pacific Group's plans to take a 23 percent stake in the company, and Bradford & Bingley's plans to raise a further 258 million pounds by selling new shares to existing investors.

BB. is digging its own grave now...now dropped from 82p to 65p.


Resolution withdraws Bradford & Bingley proposals on management resistance
AFX


LONDON (Thomson Financial News) - Resolution Ltd said that it has withdrawn its share placing proposal for Bradford & Bingley Plc., due to opposition from the board of the troubled buy-to-let lender.

The bid vehicle, run by Clive Cowdery, said in a statement Friday that the 'entrenched position' of the B&B board has 'prevented constructive engagement necessary to finalise this proposal'.

The proposal, rejected on Tuesday, would have usurped Texas Pacific Group's plans to take a 23 percent stake in the company, and Bradford & Bingley's plans to raise a further 258 million pounds by selling new shares to existing investors.

Resolution added that its bid was supported by investors.

good job i did not buy may be i will buy at .05p

The terms of the rights issue mean Citi and UBS as underwriters will end up controlling BB if shareholders do not take up their rights, which are at today's sp currently worthless. Some shareholders might be pleased this may happen but the institutional shareholders may disagree, looks like the end game for BB is near.

Market cap now down to 275m any sign of the "white knight" or even a "black horse"?

oh well, thats another financial down the pan.....nrk, now this.....reckon al. could be next

how much of taxpayers money do the gov need for this.....tens of billions for nrk, now potentially more going bust

this is steaming ahead today...........cant see the gov letting any bank / building society or major housebuilder go bust.....pity i never bought in last week

DITTO/

Bought in today could get taken out or recover 2 3 4 who knows.

I thought their results were due today
Anybody know when?

I read on another site they are due August 6, but that is unconfirmed

cheers

B&B rights issue takeup just 27.8% - MoneyAM

Mortgage bank Bradford & Bingley said today that shareholders subscribed to buy 27.8% of shares in its 400m rights issue. Underwriters Citigroup and UBS will now have to place the remaining 597 million new shares by Friday's close.

The two investment banks are supported by four major shareholders and six clearing banks that have agreed to back the underwriters.

B&B offered its shares at 55p each in the issue and its shares were trading just above that level as subscriptions closed on Friday.

The bank said separately that there had been 'no material change in the current trading and outlook' since its trading statement published in June. B&B is due to release first-half results on August 29th.

Not as bad as I thought it would be !!

Holding these and accumulating they will recover long term IMO

Taking a proper hammering now, and the institutions have not started unloading yet !!

BB. will go to 30p

WHY/??????????????????

Good support at 40p but if it doesnt hold could see 34/35p by close. Ouch !!!

Now the Vultures have surfaced, the tiddlers don't stand a chance of surviving as independants..... So, who's going to take over BBs share of the mortgage market then?