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The FTSE 100 share index has just hit a new record high as takeover speculation swirls in the City.
The blue-chip share index has jumped by 0.65% this morning to 7937.33 points, above yesterday’s intraday high of 7934.30.
Under the code name Silver-Foxtrot, officials at the Abu Dhabi bank are working under the radar on a possible bid once a cooling off period required by UK takeover rules elapses, according to people familiar with the matter.
FAB, as the bank is known, recently completed due diligence on the London-based lender, the people said, asking not to be identified because the matter is private. Any deal would be dependent on market conditions and the performance of Standard Chartered’s share price, they said.
