Metro Bank shares jumped 9 percent Monday morning after takeover news broke. Private equity firm Pollen Street wants to buy the high street lender and take it private. Stock prices climbed to 122 pence during early trading hours. The bank carries a market value above 750 million pounds. Friday closing prices reached 112.2 pence before the acquisition rumors started.
Pollen Street controls most of Shawbrook Bank through majority ownership. Shawbrook tried to merge with Starling Bank earlier for 5 billion pounds. The merger talks stopped but both sides left the door open for future deals. Shawbrook previously bid for Co-op bank during October 2023. Private equity owners actively search for new banking acquisitions across Britain.
Metro Bank nearly collapsed during November 2024 before receiving emergency funding. Colombian billionaire James Gilinski Bacal invested 925 million pounds for a 53 percent stake. His investment vehicle Spaldy Investments helped rescue the struggling lender from bankruptcy. Bacal joined Metro Bank's board after the bailout deal completed. Shares climbed over 230 percent during the past year following the rescue.
Pollen Street controls most of Shawbrook Bank through majority ownership. Shawbrook tried to merge with Starling Bank earlier for 5 billion pounds. The merger talks stopped but both sides left the door open for future deals. Shawbrook previously bid for Co-op bank during October 2023. Private equity owners actively search for new banking acquisitions across Britain.
Metro Bank nearly collapsed during November 2024 before receiving emergency funding. Colombian billionaire James Gilinski Bacal invested 925 million pounds for a 53 percent stake. His investment vehicle Spaldy Investments helped rescue the struggling lender from bankruptcy. Bacal joined Metro Bank's board after the bailout deal completed. Shares climbed over 230 percent during the past year following the rescue.
