May 26, 2024

Silicon Valley Bank Financial in talks to sell itself, report says

Silicon Valley Lender Economic, the holding company of Silicon Valley Financial institution, is in talks to promote itself, according to CNBC, the most current flip for the technological innovation-concentrated lender as it grapples with rising desire fees as a lot of of its prospects scramble to get their cash out.

CNBC did not discover the buyer, but claimed that Silicon Valley Bank unsuccessfully tried to elevate funds from buyers ahead of exploring the sale. No official term from the company, both. The company has halted investing Friday for an incoming information.

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