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South Africa's FirstRand offers to acquire Aldermore Group

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South Africa's FirstRand offers to acquire Aldermore Group

Aldermore Group Plc said it received an indicative proposal from FirstRand Ltd. to acquire its entire issued and to-be-issued ordinary share capital for 313 pence per share in cash.

The British group said its board "is likely to recommend a firm offer at this level."

More details to follow.