 On 7 May 2018, it was reported that CYBG plc had made an all-share offer of £1.7bn to acquire the company.Payment was to be in terms of a share offer where CYBG would give 1.2125 new shares for each Virgin Money share which was a 19% premium to the current share price and would see Virgin Money comprising 38% of the new combined group which would become the UK's sixth-largest bank with 6 million personal and small business customers, and total lending of £70bn.On 18 June, it was announced that the takeover had been agreed.