First Active has announced that it will delist from the Irish Stock Exchange on January 2nd as part of its takeover by Royal Bank of Scotland (RBOS).
In a statement issued this afternoon, First Active said it was calling an extraordinary meeting of shareholders to formally apporve the aquisition and to implement various resolutions required to allow the deal to go through.
The RBOS has offered to pay €887 million, or €6.20 per share, for First Active, saying the combination of First Active and RBOS's subsidiary Ulster Bank will create a challenger to the larger competitors in the Irish banking market.