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Nsf Gives Provident Investors More Time To Accept Hostile Bid

by reuters.com posted 3weeks ago 17 views
* Acceptances well short of 90 pct target (Adds details, Provident response): (Reuters) - Sub-prime lender Non-Standard Finance (NSF) expressed “strong confidence” in its bid to buy rival Provident Financial on Monday, giving Provident’s investors more time to accept its 1.3 billion pound ($1.68 billion) offer. NSF’s hostile bid for Provident has turned into a bitter war of words between the two subprime lenders with NSF accusing Provident Financial executives of mismanaging the company.

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