‘IL&P may be ripe for takeover’

IRISH Life & Permanent could be the next Irish financial institution to become a takeover target, according to stockbrokers Dolmen.

It says that though there is only speculation floating around the market, a bid for IL&P by British bank Halifax Bank of Scotland (HBOS) would make sense.

In a research note yesterday Dolmen head of research Stuart Draper said the cost savings from a takeover of IL&P would make it feasible given the greater retail focus, larger branch network and more extensive product range.