Standard Chartered may see white knight takeover on painful recovery: CLSA.(Reuters).

UK bank Standard Chartered (StanChart) (STAN.L) could be acquired by a white knight as its recovery could prove to be "challenging", according to broker CLSA, which upgraded shares of the Asia-focused lender on that possibility.

Singapore's biggest lender DBS Group (DBSM.SI) would be the most likely buyer, added CLSA in a note to clients dated Dec. 17. StanChart has seen its shares fall below a forward price-to-book value of 0.5 times this week, making it an appealing target.

The lender, which is in the middle of a restructuring under new CEO Bill Winters, has announced a series of moves to restore its profitability, including axing 15,000 jobs and streamlining the bank's management structure.

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