News
March 26, 2023 | 7:44 p.m
First Citizens BancShares is close to closing a deal.
Photograph: Dado Rovic/Reuters
First Citizens BancShares is in advanced talks to acquire Silicon Valley Bank and is close to closing a deal, Bloomberg News reported on Sunday, according to people familiar with the matter.
The report said First Citizens could strike a deal as soon as Sunday to acquire Silicon Valley Bank from the Federal Deposit Insurance Corporation (FDIC).
First Citizens and the FDIC did not immediately respond to Reuters requests for comment.
Kazuo Ishiguro is a contributor to OE Mag, covering news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on clear, accurate reporting and useful information that helps readers stay informed about current affairs and developments that matter to them. His work highlights relevant stories, emerging trends, and key issues, presenting them in a balanced, accessible, and reader-friendly way.