Nationwide is expected to announce that it is taking over two smaller rivals in a deal that will value the building society at £191bn.
Nationwide, already Britain's biggest building society, said yesterday that it was in advanced talks with the Derbyshire and the Cheshire building societies. The completed deal is likely to be confirmed today.
However, the two smaller societies' 910,000 members are unlikely to receive a windfall because the Derbyshire and Cheshire will retain their own brands and branches.
No money will change hands in the deal, which must be approved by the societies' members. The three societies will together have almost 16 million members.
Sunday Times, Sunday Telegraph