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Barclays Exploring Mergers With Rivals: Report

Daniel Liberto

Barclays Plc ( BCS) is weighing up a potential merger with one if its rivals, the Financial Times reported on Wednesday. Two people familiar with the situation told FT that Barclays’ chairman John McFarlane and deputy chairman Gerry Grimstone are theoretically keen on combining with Standard Chartered Plc. The British bank’s directors are also believed to be open to the idea of merging with Deutsche Bank AG ( DB), Credit Suisse Group AG ( CS) and DBS Group Holdings Ltd. One of the sources added that Barclays has already held private discussions with directors at each of the banks about the potential benefits of joining forces, but has yet to make a formal or informal bid approach.