Royal Bank of Scotland has spent £248m on its hostile attempt to take-over National Westminster Bank.
The sum was disclosed in RBS's official offer document posted to Natwest's shareholders and includes £93m fee to the bank's investment bankers and legal advisers.
The arrival of the document starts of the 60-day take-over timetable on the battle for Natwest, with Bank of Scotland also placing a hostile bid. BoS have so far spent £187.5m on its bid.
In the offer document RBS said it had the “breadth and the depth of management” needed to make the merger and it did not regard the bid as “hostile to the board, management, staff or the shareholders.”