(CNBC) The winning bidder in the government’s auction of Silicon Valley Bank’s main assets received several concessions to make the deal happen. First Citizens BancShares is acquiring $72 billion in SVB assets at a discount of $16.5 billion, or 23%, according to a Sunday release from the Federal Deposit Insurance Corporation.
Here’s why the U.S. had to sweeten terms to get the SVB sale done
This entry was posted in Syndicated. Bookmark the permalink.
