NatWest takeover battle

One of the UK's biggest banks, NatWest, has been forced to accept a takeover bid from a smaller rival, Royal Bank of Scotland. The outcome of this bitter struggle sets the tone for a long overdue round of consolidation in the financial sector, as it prepares for a new age of fierce global competition.

NatWest finally gives in
Royal Bank of Scotland clinches victory in the long-running struggle for control of NatWest - pipping at the post its rival Bank of Scotland, which had sparked the battle with an audacious hostile takeover bid.

Timetable of a takeover

Royal Bank on brink of victory

NatWest decision time

Banking in the doldrums

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NatWest: a clearing bank in trouble
NatWest was once Britain's most profitable bank. But it lost its chief executive after failing in its bid to conquer the global marketplace.

NatWest considers break-up (4 Oct)

NatWest chief executive ousted (8 Oct)

NatWest cuts jobs (26 Oct)

NatWest hardens takeover stance (17 Dec)

NatWest's defiant defence (24 Jan)

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Bank of Scotland
The oldest bank in the UK shows a modern streak in its desire to move south of the border, but poor judgement in its earlier plan to link up with US evangelist Pat Robertson.

BoS: £21bn bid (24 Sept)

BoS plans £1bn cuts at NatWest (7 Oct)

BoS: we will reverse NatWest decline (7 Jan)

BoS plans major branch surgery (19 Jan)

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Royal Bank of Scotland
Royal Bank of Scotland has been aggressively expanding its business through alliances with UK supermarkets and direct telephone marketing.

NatWest rejects RBS bid (28 Nov)

RBS warns of 18,000 job cuts (29 Nov)

NatWest battle nears end (31 Jan)