Santander UK Approached on Possible Metro Bank Bid, Sky Says

Santander UK is among the lenders approached by regulators about a possible bid for Metro Bank Holdings Plc, according to Sky News.

(Bloomberg) — Santander UK is among the lenders approached by regulators about a possible bid for Metro Bank Holdings Plc, according to Sky News.

The lender hired the investment bank Robey Warshaw for advice on any potential offer, Sky reported Sunday, citing people in the City of London whom it didn’t identify. NatWest Group Plc and Lloyds Banking Group Plc have also been approached, though it’s unclear whether either would make an offer for Metro Bank.

Santander UK declined to comment when contacted by Bloomberg News.

Read More: EY Approaches Lenders in Push to Find Metro Bank Buyer

Consulting firm Ernst & Young has been hired to find a buyer for Metro Bank as the challenger bank races to strengthen its balance sheet, Bloomberg reported earlier. The adviser has approached several lenders with the goal of agreeing a deal before the markets open on Monday.

JPMorgan Chase & Co. was among the lenders approached but decided not to proceed, people familiar with the matter said. Metro was previously approached about a possible merger with fellow mid-tier bank Shawbrook, but those talks didn’t t progress, although Shawbrook remains interested in doing a deal.

–With assistance from Rodrigo Orihuela.

More stories like this are available on bloomberg.com