Deutsche Bank has emerged as the only large European bank involved in talks for a potential $11 billion merger between European grocery chains Royal Ahold and Delhaize Group. The deal would rank as one of the five biggest European M&A deals in 2015 so far.

The two companies on Tuesday confirmed they had "entered into preliminary discussions…to explore the opportunity of combining the two companies". A merger of the two European supermarket giants - both of which have large US operations - would be valued at around $11 billion, according to data provider Dealogic, although the actual size of the transaction will depend on the terms, if an accord is reached.