Shawbrook Bank accept private equity takeover

Jessica Nangle

June 20, 2017

shawbrook portal

Shawbrook Group Directors have recommended that the final offer from BC Partners and Pollen Street Capital for 75.6% of shareholders with an offer of 340p a share should be accepted, the Financial Times reports.

BC Partners and Pollen Street Capital have been trying to buy Shawbrook since January.

In a statement given on Tuesday, Shawbrook’s independent directors maintained that the final offer “undervalues” Shawbrook.

The deal reportedly would “significantly reduce the liquidity of Shawbrook shares” and as a result the shareholders should “accept the final offer”.

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