Metro Bank shares soar after takeover approach from Pollen Street Capital

In the UK, shares in Metro Bank have seen a significant increase, hitting their highest level in over two years. This surge follows reports of a possible takeover by the investment firm Pollen Street Capital, which has approached the high street lender with interest. The discussions are reportedly in the early stages, with no formal statements made by either party at this moment, despite the sharp rise in the bank's share price. Prior to this development, Metro Bank faced a challenging period marked by a precipitous drop in its share price and a severe loss of investor confidence. The lender managed to secure a multimillion-pound rescue deal in 2023, which allowed it to stabilize and return to profitability. Colombian billionaire Jaime Gilinski Bacal, whose firm Spaldy Investments became a majority shareholder, played a critical role in this turnaround. Recent trading saw Metro shares soar more than 10%, rising approximately 13.2% to reach 127p, a value that had not been seen since March 2023. Investors have responded positively to the news of acquisition talks, indicating a potential shift in the confidence of the market towards Metro Bank. The rise in share prices also coincided with broader market movements in the UK, as the FTSE 100 index registered gains amid ongoing tensions in the Middle East, which have influenced oil and gold prices. As investors speculate on the potential takeover, Metro Bank's trajectory seems to become increasingly promising, offering a glimpse of revival in a sector that has faced significant challenges in recent years.