NBNK puts in a bid for the Rock

NBNK Investments, the buy-out vehicle led by Lord Levene, sent in a first-round bid for nationalised lender Northern Rock yesterday.

City A.M. revealed that NBNK was exploring a bid in August when it became clear that the auction would not get off the ground before the bank’s prohibition on bidding expired. It had agreed a hiatus on bidding after employing the Rock’s former chief Gary Hoffman.