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Private equity groups raise offer for Shawbrook bank

Private equity groups trying to take control of Shawbrook said on Monday they had raised their offer for the British challenger bank by just over 3 per cent, as they try to convince another 5 per cent of shareholders to accept the deal.

The offer of 340 pence a share values Shawbrook at about 868 million pounds, up from the previous 842 million pound bid Marlin Bidco, the buyout vehicle set up by BC Partners and Pollen Street Partners, said in a statement.

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