Takeover bid for Shawbrook Bank

Published on

Shawbrook Bank has confirmed that it has received a takeover bid for the business from private equity firms Pollen Street Capital and BC Partners. 

The offer would see Shawbrook shareholders would receive 330 pence per ordinary share in cash. In addition, Shawbrook shareholders would be entitled to retain any final dividend up to 3 pence in respect of the year ended 31 December 2016.

Shawbrook said discussions with the Consortium are ongoing.

The bid values the challenger bank at £825m.

Funds managed or advised by Pollen Street currently hold approximately 38.9% of the issued share capital of Shawbrook and Lindsey McMurray serves as the representative director of Pollen Street on the Board of Shawbrook. Accordingly, McMurray has not been, and will not be, involved in the Board’s consideration of the proposal made by the Consortium.

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...