First Abu Dhabi Bank said it did not evaluate the offer to buy Standard Chartered
© Reuters. FILE PHOTO: The logo of Standard Chartered bank is seen at their headquarters in London, Britain, July 26, 2022. REUTERS/Peter Nicholls
SINGAPORE (Reuters) – First Abu Dhabi Bank (FAB), the United Arab Emirates’ largest lender, said on Friday it was not evaluating Britain’s offer to buy Standard Chartered (OTC: ).
News of the potential offer first surfaced on January 5, when the FAB said it had considered a bid to acquire London-listed Standard Chartered but was no longer doing so.
Shares of StanChart jumped 11% on Thursday after Bloomberg News reported that the Abu Dhabi lender was considering reinstating bids after the immediate expiration of that job-preventing lockdown, given price range from $30 billion to $35 billion.