First Citizens in talks to acquire Silicon Valley Bank, Bloomberg reports
March 18 (Reuters) - First Citizens BancShares Inc (FCNCA.O) is evaluating an offer for Silicon Valley Bank (SIVB.O), Bloomberg News reported on Saturday, citing people familiar with the matter.
At least one other suitor is making a serious consideration for the collapsed lender, the report said.
SVB and First Citizens did not immediately respond to Reuters' request for comment outside of business hours.
Reuters reported earlier this week that the Federal Deposit Insurance Corp had asked banks interested in acquiring Silicon Valley Bank and Signature Bank to submit bids by March 17.
The auctions followed the FDIC taking over Silicon Valley Bank last Friday and Signature Bank (SBNY.O) on Sunday, as the collapses of the two U.S. mid-sized lenders whipsawed global financial markets over fears of a contagion.
This will be the FDIC's second attempt at selling SVB after a failed effort a week ago. The FDIC had retained investment bank Piper Sandler Cos (PIPR.N) to run a new auction, the sources told Reuters.
Our Standards: The Thomson Reuters Trust Principles.
- DealsBlackbaud rejects $71/shr offer from stakeholder Clearlake
Blackbaud Inc on Monday rejected a buyout offer from its largest shareholder Clearlake Capital that valued the software firm at $3.78 billion.
- DealsStore operator Arko discloses $1.4 bln offer for TravelCenters of America
Arko Corp said on Monday it had made a superior buyout offer for TravelCenters of America Inc than BP plc , but indicated the truck stop operator did not view its proposal favourably.