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Metro Bank takeover prospects slump as US buyer ends talks
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Metro Bank shares slumped on Thursday after US private equity firm Carlyle Group said it had ended its interest in buying the UK challenger bank.
Carlyle said it had agreed with the bank “to terminate discussions regarding a possible offer”.
The report of a possible takeover had offered Metro Bank shareholders some hope after a torrid three-and-a-half years in which its market value plummeted from more than £3.6bn in March 2018 to less than £200m on Thursday.
Metro Bank shares had soared from 103p before the talks were revealed earlier this month to 133p, their highest since February. However, they slumped by 18% on Thursday to 109p in mid-morning trading.
The bank had burst onto the British high street in 2010 following the financial crisis,
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