- had cooled on Sunday, as U.S. regulators invited bids for the failed lender, according to sources familiar with the matter., one of the sources said. Reuters could not determine which banks had bid.Silicon Valley Bank
this weekend after taking control of it on Friday so that the bank's corporate clients that had their money frozen can meet their payroll obligations. But a deal on a tight timeline has proven to be hard. Bids were due for SVB at 2:00 pm ET 1800 GMT), two of the sources said. PNC, one of the 10 largest U.S. banks by assets, wanted to pursue a bid for the entirety of Silicon Valley Bank, one of the sources added, but then studied a bid for parts of Silicon Valley Bank. A separate source familiar with the matter said PNC had decided to withdraw from any further talks.
Source: Loan Digest (loandigest.net)
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