Shawbrook Bank accept private equity takeover

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”.