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.

“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”.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Recently, 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.