Nationwide's £2.9billion takeover of Virgin Money approved

A judge has said he is satisfied legal requirements of the takeover have been complied with

Nationwide's £2.9billion takeover of Virgin Money has been approved. Judge Sir Anthony Mann said he was satisfied legal requirements had been complied with.

He told a specialist companies court in London: “It’s obviously a sensible scheme with financial benefits. I can see no reason not to sanction the scheme and in my discretion I will do so.”

The deal should be effective from Tuesday, Nationwide and Virgin said.