23.5 C
Dubai
Tuesday, March 28, 2023
spot_img

First Abu Dhabi Bank says it is not currently evaluating offers for StanChart

First Abu Dhabi Bank says it is not currently evaluating offers for StanChart


SINGAPORE, Feb 10 (Reuters) – First Abu Dhabi Bank (FAB.AD) The United Arab Emirates’ largest bank (FAB) said on Friday it was not evaluating an offer for Britain’s Standard Chartered. (Stan.L).

News of the potential bid first emerged on Jan. 5, when FAB said it had considered a bid for London-listed Standard Chartered, but no longer did so.

Standard Chartered shares rose 11% on Thursday after Bloomberg news Report Abu Dhabi Bank is considering resuming bids, offering $30 billion to $35 billion, after the expiration of a lock-up period preventing it from doing so immediately.

Based on Thursday’s closing price, Standard Chartered’s market capitalization was nearly $27 billion.

“First Abu Dhabi Bank PJSC takes note of recent media speculation about Standard Chartered and reiterates that it will not be evaluating a possible bid for Standard Chartered,” the lender said in a statement on Friday.

However, it added that it and related parties reserve the right to “announce an offer or possible offer for the company, or to make or participate in an offer or possible offer for the company” within six months of the date of this announcement.

the latest update

View 2 more stories

Reporting by Anshuman Daga; Editing by Jacqueline Wong and Muralikumar Anantharaman

Our standards: Thomson Reuters Trust Principles.



Source link

Related Articles

Naftali Bennett meets with UAE President MBZ on visit to Abu Dhabi

Bennett's UAE trip seen by some as a swipe at Prime Minister NetanyahuFormer Israeli Prime Minister Naftali Bennett met with United Arab Emirates...

Conor Benn ‘to face Chris Eubank Jr.’ in Abu Dhabi on June 3, opponents to reschedule

Benn prepares to reignite his family's feud with Eubanks in Octoberuntil he tested positive for clomiphene before the showdownThe couple are now expected...

Abu Dhabi Department of Health, Pure Health, Rafed join UAE’s ICV program

Dubai: Abu Dhabi's Department of Health (DoH), Pure Heath and its...

Latest Articles