Standard Chartered shares jump after Abu Dhabi Bank said it weighed making bid

Standard Chartered
STAN,
+6.75%
2888,
+2.58%
shares jumped 7% as Abu Dhabi Bank said it considered making a takeover bid for the Asia-focused, U.K.-headquartered bank. “First Abu Dhabi Bank confirms that it had previously been at the very early stages of evaluating a possible offer for Standard Chartered, but as of the date of this announcement, is no longer doing so,” the bank said in a statement. Sheikh Tahnoon bin Zayed Al Nahyan, the chairman of First Abu Dhabi, is the son of the founding father of the United Arab Emirates.