NEW YORK CITY (dpa-AFX) - The Bank of England's Prudential Regulation Authority approached a number of big UK lenders in the past few days, including NatWest, Santander UK and JP Morgan Chase, to see if they had any interest in taking over British lender Metro Bank Holdings Plc, according to several media reports on Sunday.
JPMorgan and HSBC studied bids for Metro Bank before opting not to proceed on Saturday after being deterred by the extra capital a buyer would have to put in, the reports said.
According to Sky News, Santander UK had engaged Robey Warshaw - the advisory firm where former chancellor George Osborne is a partner - to work on a potential offer.
There was no certainty on Sunday afternoon that any of the banks approached would make an offer for Metro Bank given the truncated timetable and the limited opportunity to conduct due diligence, the Sky News reported.
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