Shawbrook makes offer for Co-op Bank, eyes fresh Metro Bank bid –sources
© Reuters. FILE PHOTO: Signage is seen outside of a Metro Bank in London, Britain, May 22, 2019. REUTERS/Hannah McKay/File Photo
Shawbrook, backed by private equity groups BC Partners and Pollen Street, tabled an indicative bid for Co-op in recent days, said the people, who spoke on condition of anonymity. Metro Bank has seen its shares tumble after news emerged that it had hired advisers to shore up its balance sheet after failing to gain key capital relief from banking regulators.
Britain's Prudential Regulation Authority is sounding out buyers over the weekend in hopes of finding a solution for ailing Metro Bank before markets open on Monday morning.
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