Toby Lewis

A consortium led by Virgin Group and including WL Ross has tabled a preferred bid for struggling UK bank Northern Rock. The bid provides shareholders with a way to benefit from the upside of any turnaround.

A consortium led by Virgin Group and including WL Ross has tabled a preferred bid for struggling UK bank Northern Rock. The bid provides shareholders with a way to benefit from the upside of any turnaround.

The syndication of the remaining tranche of Alliance Boots debt could take up to a year after a double blow to the company.