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LONDON (Alliance News) - FTSE 250-listed challenger bank OneSavings Bank PLC said Thursday its shareholders have unanimously approved the merger with peer Charter Court Financial Services Group PLC.
Charter Court is due to hold its own general meeting later on Thursday for its own shareholders to vote on the tie-up.
In March, the two banks announced they had agreed an all-share merger to create a combined lender with a market capitalisation of GBP1.78 billion. The deal would see OneSavings offer 0.8253 of a share for each Charter Court share.
However, on Wednesday the UK Competition and Markets Authority made the call for comments as it began to consider whether the merger "may be expected to result" in a "substantial lessening of competition" within the markets of the two banks.
The CMA said the invitation to comment will close on June 19.
Shares in OneSavings were up 0.1% at 401.40 pence, while Charter Court Shares remained flat at 330.00p on Thursday.
