In all likelihood, Shawbrook Bank’s life as a listed company is coming to an end. The challenger lender’s private equity owners are in the strange position of bidding to take control of the business a little over two years after floating the company on the London market.
Yesterday, Marlin Bidco, the special vehicle established by BC Partners and Pollen Street Capital to buy out Shawbrook, raised its offer for the bank to 340p per share in a final push to get the 5 per cent of shareholders they require to hit the 50 per cent of the equity they must control to get the deal through.
At this price, Shawbrook is being valued at close to £870 million, this for a bank that already trades