NAB spin-off Clydesdale and Yorkshire banking group has upped its offer for Virgin Money, hoping to succeed in a merger that would create Britain's sixth largest bank, reports The Guardian. The revised offer brings its bid to £1.6 billion and would give CYBG a 38 per cent stake in the combined group, up from 36.5 per cent. But, as the FT points out, that means Virgin shareholders would be getting slightly less per share than the original offer, meaning the "sweetened deal" is slightly bitter.