UK bank TSB, which was formerly owned by Lloyds has agreed a 1.7 billion sterling takeover by Spanish bank Sabadell.
The takeover comes less than a year after TSB rejoined the stock market when Lloyds Banking Group sold off 50 percent of the business. Sabadell's 340 pence share offer is 4 percent above TSB's Thursday close.
The price is 29 percent above the level at which investors valued the TSB business on March 11 before Sabadell stepped in.
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