Pollen Street Capital and BC Partners have made a ‘third and final bid’ for challenger bank Shawbrook of £868m.
The two firms tabled an £825m offer for the lender in March which valued the company at 330p a share but on Monday upped the offer to 340p.
Shawbrook has so far urged shareholders to rebuff the overtures, and investors now have until 19 June to decide whether to accept or reject the offer.
In a statement released today (5 June), Lindsey McMurray of Pollen Street Capital and Cedric Dubourdieu of BC Partners, said: "After carefully considering market feedback we are pleased to be able to make an improved best and final offer, which we consider offers shareholders an attractive premium and compelling value.
"We continue to share the Shawbrook management team's vision and look forward to working with them in the future to build on the company's strong foundations as a specialist lender."
The takeover approach comes after Pollen Street floated Shawbrook on the London Stock Exchange at 290p a share in April 2015, valuing the bank at £725m.
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