UK’s Metro Bank rejected takeover approaches from specialist lender Shawbrook-Sky News

uk’s-metro-bank-rejected-takeover-approaches-from-specialist-lender-shawbrook-sky-news
UK’s Metro Bank rejected takeover approaches from specialist lender Shawbrook-Sky News

British lender Metro Bank has reportedly rejected a series of takeover approaches from specialist business lender Shawbrook. The offers, including one made in September, were turned down by Metro Bank. The valuation of Shawbrook’s offers is unknown. Metro Bank’s board is set to meet with bondholders to discuss a refinancing package worth over £500 million. Both Metro Bank and Shawbrook declined to comment on the matter. Metro Bank is also discussing funding options with its shareholders to strengthen its finances and reassure regulators. The bank’s shares have experienced a significant drop following reports of its capital level concerns. Shawbrook is a London-based specialist lender with a loan book of £10.5 billion.

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