He and Mathewson were by now both focused on another opportunity: NatWest, the English high street bank whose share price stood low after years of scandal and mishap, was an obvious takeover candidate. NatWest's balance sheet was bigger than those of BoS and RBS combined, leading Burt and Mathewson first to the idea of a joint bid and a dividing of the spoils. But secret discussions faltered, and in September Burt launched a hostile £21 billion solo bid which caught Mathewson unawares on a trip abroad, but was rejected by NatWest as "unwelcome and ill thought-out". Two months later, RBS entered a competing bid; with little between them in price, the battle lasted until February 2000 when RBS prevailed after institutional investors judged it to have the better cost-saving merger plan. Burt's next target was Abbey National.