JPMorgan Chase & Co. explored a potential bid for UK lender Metro Bank Holdings Plc but decided on Saturday night not to go ahead with a possible deal because of the additional capital that would be required by a new buyer, according to the Financial Times.
(Bloomberg) — JPMorgan Chase & Co. explored a potential bid for UK lender Metro Bank Holdings Plc but decided on Saturday night not to go ahead with a possible deal because of the additional capital that would be required by a new buyer, according to the Financial Times.
Metro Bank is in discussions over a financing package with its bondholders and shareholders with the aim to reach any agreement before Monday, Bloomberg reported.
The Bank of England’s Prudential Regulation Authority last week approached large UK banks to gauge their interest in Metro, the FT reported Sunday, citing people familiar with matter. The regulator wants any bids to be for the whole bank, rather than parts of it.
Any deal done with JPMorgan would have been carried out through Chase UK, JPMorgan’s British digital banking unit.
JPMorgan, Metro Bank and the PRA declined to comment to the FT.
Read More: Metro Bank in Talks for Debt Restructuring, Equity Injection
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