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Carlyle says takeover talks with Metro Bank ended -Breaking

by Mike Robinson

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© Reuters.

(Reuters) – U.S. Private Equity firm Carlyle, and Metro Bank agreed to terminate talks on a possible takeover of the British lender.

In a separate statement, the lender noted Carlyle’s announcement and stated that “The board remains strongly convinced in the standalone strategy of Metro Bank”

Both sides did not provide reasons for negotiations to fail.

Metro Bank, which announced earlier in the month that it was considering a takeover from Carlyle, sent its shares up to 31%.

Metro Bank’s shares have fallen around 57% in the last two months, as competitors and lower interest rates continue to plague it.

After a serious accounting mistake in 2019, Metro Bank is trying to turn its fortunes around. This led to significant shares price falls and forced the resignation of its top executives.

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