March 7, 2017 / 7:15 AM / 5 months ago

British bank Shawbrook rejects $1 bln buyout proposal

March 7 (Reuters) - Britain's Shawbrook Group Plc said on Tuesday it had rejected a proposal be bought by two private equity firms for 825 million pounds ($1 billion).

Shawbrook's largest shareholder, Pollen Street Capital, together with BC Partners, had offered to buy Shawbrook for 330 pence per ordinary share in cash and allow shareholders to retain a final dividend of not more than 3 pence per share.

$1 = 0.8183 pounds Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Mark Potter

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