hopes to complete its acquisition by the end of the year but must first win the approval of shareholders and fight off any other potential bids.
As part of its corporate strategy, BSCH
has consolidated its operations into one location at 45 East 53rd Street.
It also said it would offer 100 BSCH
shares each to Abbey employees if any takeover were successful.
said the acquisition would be an ``excellent entry'' into the UK market and pledged to drive sales from better use of Abbey's 741-strong branch network and from modernisation of the company's IT network.
hope to complete the acquisition by the end of the year but must first win the approval of shareholders and hope no other bidders emerge.
It is thought Abbey shareholders would be given shares in the new enlarged BSCH
group, with around 10% being in cash.
The recently merged Banco Santander Central Hispano, known as BSCH
, has appointed Cushman & Wakefield to sublease 280,000 square-feet, with a 198,000 square-foot block at the award winning 1251 Avenue of the Americas.
With any interest from HBOS likely to draw out other UK banking giants, Abbey shares jumped 14 1 /2p to 581 1 /2p - well above the value of the BSCH
and Abbey both hailed last week's deal, which would result in Europe's biggest cross-border banking takeover.
Banco Santander chairman Emilio Botin; The BSCH
board described the acquisition of Abbey National as an `excellent entry' into the UK market
It is thought that Abbey shareholders would be given shares in the new enlarged BSCH
group, with around 10pc being in cash.
The announcement from BSCH
said: 'Grupo Santander are holding conversations with Abbey National.