B&B rejects Resolution approach
LONDON (Reuters) - Lender Bradford & Bingley BB.L rejected an investment approach by restructuring specialist Resolution and still plans to accept private equity firm TPG as an investor and carry out a rights issue, people familiar with the situation said on Monday.
"The board rejected an approach by Resolution," one of the sources told Reuters.
U.S. private equity firm TPG Capital TPG.UL is still committed to its plan to buy a 23 percent stake in B&B for about 179 million pounds, the sources said.
(Reporting by Elena Moya and Steve Slater)
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