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18 Nov 2021

Metro Bank Shares Take a Steep Fall as Deal Talks End with Carlyle

Metro Bank Shares Take a Steep Fall as Deal Talks End with Carlyle

The Index Today

Carlyle Group Inc. and Metro Bank Plc discussions for takeover have ended, leading to shares falling by 20% as of 8:07 am London time. Both companies announced on Thursday that talks are no longer being pursued.

The group said in a statement on November 4th that is was in talks with another private equity firm for a takeover offer according to Bloomberg News Report. Upon release of the news, Metro Bank shares surged by 43%.

The deal for consolidation has become common among smaller firms in the industry who face tough competitions from rivals. Metro Bank was among the first retail lenders to set up in the U.K in 2010. However, deals for banks are notorious to execute due to regulatory capital and other issues. In response to the news, Metro Bank released a statement saying, “The board continues to strongly believe in the standalone strategy and future prospects of Metro Bank.”

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