Two weeks after Metro Bank PLC (LON:MTRO) confirmed that it has received an approach from funds affiliated with The Carlyle Group regarding a possible offer to acquire its entire issued share capital, the discussions have come to an end.

Today, Carlyle Investment Management announced that Carlyle and Metro Bank have agreed to terminate discussions regarding a possible offer for the company.

Carlyle and any person acting in concert with it will be bound by the restrictions under Rule 2.8 of the Code. For the purpose of Rule 2.8 of the Code, Carlyle and any person acting in concert with Carlyle, reserve the right to announce an offer or possible offer for the Company or make or participate in an offer or possible offer for the Company (and / or take any other actions which would otherwise be restricted under Rule 2.8 of the Code) within the next six months following the date of this announcement in the following circumstances:

• with the agreement or recommendation of the board of directors of the Company;
• following the announcement of a firm intention to make an offer for the Company by or on behalf of a third party;
• following the announcement by the Company of a “whitewash” proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover; and/or
• where the Panel on Takeovers and Mergers has determined that there has been a material change of circumstances.