Reuters has reported that ousted LendingClub CEO and co-founder Renaud Laplanche has been speaking to PE firms and banks about a potential buyout of the online lender. The stock climbed in the early trading hours, but talks are certainly still preliminary and may not lead to an offer. The company and its co-founder have said very little since high surprise resignation and a subsequent stock price slide of nearly 40%
Founder said to approach buyout funds, banks on financing Those discussions may not lead to a bid, the publication says Renaud Laplanche, who stepped down as LendingClub Corp.’s leader a month ago, has since spoken to buyout firms and banks about the possibility of trying to take over the company, Reuters reported, citing unidentified people familiar with the matter. The former chief executive officer and chairman, who resigned May 6 amid internal reviews, approached the institutions to discuss potentially financing a bid, the publication wrote, without identifying firms. Talks were preliminary and may not lead to an offer, it said. Spokesmen for Laplanche and LendingClub declined to comment on the report. The company’s stock climbed 4.6 percent to $4.59 in extended trading Tuesday as of 7:30 p.m. in New York, paring a drop earlier in the day.