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More Building Society Mergers Inevitable

One of the biggest "no brainers" right now is the increased likelihood that other building societies will follow the Portman and be gobbled up by other societies. If this happens the society being acquired will likely issue a payout to members.
Note though, if they go public, members will probably get no money as when they open an account they will have to waive any windfall payouts.
The likely mergers are generating a new wave of carpetbaggers who are opening accounts with the sole aim of getting windfalls.
However, I think some are more likely to be merged / taken over than others.
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David Lawrenson and lettingfocus.com - the home of independent buy to let advice.

This entry was posted by lettingfocus, on Tuesday, November 07, 2006.