(Bloomberg) -- Charter Court Financial Services Group and OneSavings Bank said they are in advanced discussions regarding a possible all-share combination of the two U.K.-based companies.
Proposed terms include OSB acquiring all the issued and to-be-issued ordinary share capital of Charter Court on the basis of an exchange ratio of 0.8253 new OSB shares for each Charter Court share
Proposed that Andy Golding, currently CEO of OSB, will become CEO of the combined group
OSB, Charter Court boards are expected to recommend the possible merger
To contact the reporter on this story: Bill Haubert in New York at bhaubert@bloomberg.net
To contact the editors responsible for this story: Edith Moy at echan10@bloomberg.net, Steve Geimann
