Ambitious bid for Abbey may bring on takeover of BoI itself

BANK OF IRELAND'S proposed merger with British bank Abbey National plc is one of the most ambitious in Irish corporate history.

However, a week after the merger proposal was dismissed by the Abbey National board, we believe Bank of Ireland’s courtship is waning. The reduced possibility of a deal is, in fact, pushing Bank of Ireland’s (BoI’s) share price up.

Sadly for Bank of Ireland management, the fight for Abbey may have been lost before they even donned their gloves.