Ann: Recommended all share offer for Virgin Money, page-3

"In the context of some 560m pounds of Pre-Tax Profits,120m pounds of uplift - before any organic growth - is very meaningful."

In the interest of offering a balanced view:

On the other hand, the costs to achieve those synergies is also very meaningful - viz. 240m pounds, plus 60m pounds of re-branding costs.

Shareholders should forget about receiving any decent dividends for a while.
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