2023-03-16 11:08:33 ET
- JPMorgan Chase ( NYSE: JPM ) and Morgan Stanley ( NYSE: MS ) and many other big banks are discussing a potential deal with First Republic Bank ( NYSE: FRC ) thereby leading to a sizable capital infusion for the troubled lender.
- Among the various potential options that FRC is considering are - a capital raise, a full takeover (looks unlikely at this point) are some of the options.
- Amid a unstable situation, whether a deal comes together and what it might look like is still highly uncertain.
- Earlier in the day, First Republic was said to be evaluating a possible sale.
- FRC received a Junk rating at S&P and Fitch yesterday on outflow risk.
- The stock has plunged 23% until trading currently.
For further details see:
JPMorgan, Morgan Stanley and others talk through to strengthen First Republic