STANBIC is expected to address a meeting of shareholders and analysts in Midrand on Thursday morning, to address the Nedcor takeover bid head-on. Stanbic’s Gareth Richards said the two hour presentation will be a considered response to Nedcor’s move, providing in-depth analysis while highlighting the risks of the merger. The bank believes Nedcor has significantly underestimated the revenue losses of the move, and overplayed its benefits. Richards says its response remains a solid “no” to the merger overtures. Stanbic has reportedly spend R25-million in advisor fees to defend itself against Nedcor’s bid.