LONDON (Alliance News) - FTSE 250-listed Charter Court Financial Services Group PLC said Thursday its shareholders have approved the merger with peer OneSavings Bank PLC.
Earlier on Thursday, OneSavings shareholders unanimously approved the merger.
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 & 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. Alongside approval from the CMA, the Prudential Regulation Authority and Financial Conduct Authority, the merger is also conditional on being sanctioned by the court, the hearing for which is scheduled in the third quarter of 2019.
Shares in OneSavings were up 0.2% at 401.80 pence, while Charter Court Shares were down 0.8% at 327.50p on Thursday.
OneSavings Bank (OSB)