Metro Bank surges as Pollen Street said to have made takeover approach
shares surged on Monday following reports over the weekend that it has been approached by private equity firm Pollen Street Capital about a possible takeover.
According to Sky News, Metro was approached in the last fortnight about an offer to take it private spearheaded by the financial services-focused buyout firm.
Pollen Street is one of the major shareholders in Shawbrook, the mid-sized bank which in the past has approached Metro Bank about a merger of the two companies.
According to Sky, in recent months, Shawbrook's owners have stepped up efforts to identify a prospective corporate combination, holding tentative talks with Starling Bank about a £5bn tie-up, while also drawing up plans for a stock market listing.
At 0815 BST, Metro Bank shares were up 8.8% at 122.06p.
Metro declined to comment on the report.
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