J Sainsbury plc (LSE:SBRY) said on October 22, 2021 that it had ended talks about selling its banking operation (Sainsbury's Bank plc) after concluding that approaches it received in November 2020 did not offer good value for shareholders. "Whilst the Board of Sainsbury's believe that it was in the best interests of shareholders to explore these expressions of interest, it has concluded that these do not offer better value for shareholders than will be realised through retaining Sainsbury's Bank," it said. Barclays PLC (LSE:BARC), Lloyds Banking Group plc (LSE:LLOY) and NatWest Group plc (LSE:NWG) were among possible suitors, a source familiar with the matter said in November 2020.
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- Sainsbury's Ends Talks on Selling Banking Operation