UK-based mid-sized lender Metro Bank has revealed that it has received an acquisition offer from American private equity firm Carlyle.
The lender stated that it is in talks with Carlyle regarding its offer and an announcement will be made later.
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“Metro Bank confirms that it has received an approach from funds affiliated with the Carlyle Group regarding a possible offer to acquire the entire issued share capital of Metro Bank”, the bank said in a statement.
Metro Bank stated that it is not certain if an offer will be made and advised shareholders to take no action.
Launched in 2010, the mid-sized lender sought to challenge UK’s high street lenders; however, after its 2019 misreporting scandal, it has been struggling to generate profits.
As per Bloomberg’s report, in the Q3 trading update, Metro Bank CEO Daniel Frumkin said that the lender’s business had improved and was witnessing “gradual return to normalcy”.
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By GlobalDataRecently, British lender Co-operative Bank made an offer to buy Banco de Sabadell’s UK subsidiary TSB Bank.
As per media reports, Co-operative Bank was willing to pay over £1bn for TSB Bank.
However, the board of Spanish bank turned down the offer made by Co-operative Bank.
“This is not a transaction that we wish to explore at this moment as we have previously expressed publicly”, Sabadell’s board was quoted by Reuters as saying.
