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Provident under siege

Provident under siege

As if the board of Provident Financial (PFG) did not have enough on its plate in turning around the sub-prime lender, it is now fending off the advances of upstart rival Non-Standard Finance (NSF). The troubled group has received a hostile all-share bid from NSF, which has gained the backing of shareholders representing 50 per cent of the target’s share capital.

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