Bradford Abbey National workers were breathing a sigh of relief today after bosses rebuffed a £20 billion takeover bid.
Lloyds TSB's offer for the mortgage bank, which could have put 9,000 jobs nationally in the balance, was rejected on the grounds that the terms remained "inadequate".
Abbey National employs 1,800 people in Bradford of which 1,200 work at its £22 million northern headquarters in Nelson Street.
Banking union leaders have attacked the takeover plans and all five Bradford MPs have written to Trade Secretary Stephen Byers urging him to refer the bid to the Competition Commission.
The Abbey National said its board had met to consider the pre-conditional offer, announced on January 31, and noted the terms were "the same as those proposed by Lloyds TSB in December".
It added the "proposed offer terms remain inadequate and subject to material uncertainties".
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