NBNK has lined up law firm Stewarts Law to take legal action against Lloyds, which chose the
NBNK, which is chaired by
Amber describes itself as an activist fund that "takes stakes in undervalued companies and taking action to enhance value."
NBNK has another activist investor, American
The Co-op's takeover of the branch network failed after the deal collapsed last year amid the Co-op's financial crisis.
Lloyds recently confirmed that it would float the unsold branches under the TSB name over the coming weeks. NBNK has a market capitalisation of nearly £17m with its share price closing up 1.6 per cent yesterday at 31.5p per share.
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