John Cronin, analyst at stockbroker Goodbody, said the industry was ripe for merger and acquisition activity, partly because banks’ market values have tumbled amid fears over a potential surge in defaults linked to the Covid crisis.
Larger lenders are also on the hunt for potential takeovers. Most major banks came into the pandemic profitable and with extra capital, which has only grown since regulators temporarily banned them from paying dividends in March.
The Global Investments Division at Cerberus Capital Management, which one might imagine is behind this, is chaired by the one and only Dan Quayle
Lolz, a name from the past there
Gotta be Co-op and Metro as prime targets, followed by TSB if Sabadell is looking to divest.
I still think Virgin Money are most likely to end up buying TSB.