The Abu Dhabi bank had been considering a full takeover of Standard Chartered, according to people familiar with the matter. FAB, as the firm is known, had been working with advisers though no formal approach had been made, the people said, declining to be identified as the deliberations are private.
First Abu Dhabi Bank PJSC said it explored a potential bid for Standard Chartered Plc, in what would have been a complex deal aimed at building an emerging markets lender with more than US$1 trillion ($1.34 trillion) of assets.
The Middle East’s largest bank was previously in the “very early stages of evaluating a possible offer for Standard Chartered” but is no longer doing so, it said in a regulatory filing Thursday. Bloomberg News reported earlier that FAB had been assessing Standard Chartered for more than six months as it considered a potential bid for the London-based lender.
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