Bank vulnerable after failed takeover

BANK OF IRELAND’S spurned takeover of Britain’s second-biggest mortgage lender has left the bank vulnerable to being taken over itself.

Bloxham Stockbrokers senior analyst Kevin McConnell said the fall in BoI’s share price since the close of business on Friday had reduced the cost of taking over BoI.

“They are vulnerable to takeover from a third party. The likelihood of a predator making an offer for BoI has increased considerably,” Mr McConnell said.