Northern Rock shares have plummeted more than 14%

A bad week for Northern Rock as shares have dropped more than 14% on reports of a takeover approach valuing the company at less than £1bn. The fall in shares has wiped out early gains as stake sales from two investors reignited concerns over the bank’s future.

The shares in Northern Rock first started to sink when it was revealed that a bid approach of just 200p a share – they had earlier touched an order book high of 335p.
“There is a big question over the future of Northern Rock.