National Australia Bank is gearing up for a takeover of nationalised UK lender Northern Rock and has held a “beauty parade” of potential advisors on the deal, reports The Observer. NAB, which already owns Clydesdale and Yorkshire banks in the UK, has hosted presentations by Lazard, Citigroup, Credit Suisse and Morgan Stanley in preparation for opportunities emerging from the planned shake-up of the UK banking sector. NAB could also bid for hundreds of branches being sold by RBS and Lloyds, the report adds.

This entry was posted by Gwen Robinson on Monday, January 4th, 2010 at 4:40 and is featured in The 6am Cut London (4 Jan 2010) . Tagged with nab, northern rock. Edit this entry.