Qatari International Islamic Bank
Islamic Bank of Britain taken over
Mon, 2011-03-21 11:21 — newsdeskThe Islamic Bank of Britain is being acquired by the Qatari International Islamic Bank in an unconditional cash offer.
Under the terms of the deal, shareholders in the Islamic Bank of Britain can receive one penny in cash for each share. The Offer represents a 70.4% discount to the closing price of 3.38p per share last night.
The directors of the Islamic Bank of Britain have said that the terms of the offer are fair and reasonable.
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