British lender Co-Operative Bank said it’s in “exclusive discussions” with Coventry Building Society over a potential merger after receiving some non-binding proposals from prospective buyers.
The bank has entered a period of exclusivity with Coventry to better evaluate the merits of a combination, it said in a filing on Thursday. The building society said in a separate statement it has entered into the agreement “in order to carry out due diligence and to continue engagement.”
Read More : Co-Op Bank of UK Engages in Exclusive Merger Talks with Coventry