2023-03-15 23:14:20 ET
- The FDIC has set Friday as the deadline for banks interested in acquiring Silicon Valley Bank ( NASDAQ: SIVB ) or Signature Bank ( NASDAQ: SBNY ) to submit bids.
- Reuters reported that only those submitting bids that have an existing bank charter will be permitted to take a look at a bank's books before submitting their offer.
- One condition that has been set is that an acquirer must surrender the bank's crypto business.
- Reuters also reported that the FDIC has hired Piper Sandler to assist in the auction.
For further details see:
SVB, Signature Bank bid deadline set for Friday by FDIC - Reuters