March 17 (Bloomberg) -- WestLB AG and U.S. investor Christopher Flowers are considering bidding for IKB Deutsche Industriebank AG, Financial Times Deutschland said today.

The German state of North Rhine-Westphalia and Flowers have discussed a joint bid, FTD said, without saying where it obtained the information. They may pay 700 million euros ($1.1 billion) to 800 million euros, FTD said.

To contact the reporter on this story: Karin Matussek in Berlin at kmatussek@bloomberg.net

Last Updated: March 17, 2008 02:38 EDT