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Market Chatter: Lloyds Banking Group Mulls Acquisition of FirstRand's Aldermore Unit

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Lloyds Banking Group (LYG) is preparing for a potential bid to acquire Aldermore, which has been put up for sale by its parent company FirstRand Group, Sky News reported Monday, citing sources familiar with the matter.

The report said Lloyds is considering the transaction because of Aldermore's small business lending and project finance capabilities, but noted that a formal bid is not guaranteed.

Lloyds Banking Group and FirstRand Group did not immediately respond to' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $5.76, Change: $+0.22, Percent Change: +3.97%

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