SVB Seeks Quick Savior After Regulators Shut Banking Operations
- The failed lender could be sold in its entirety or piecemeal
- Silicon Valley Bank collapsed in biggest US failure since 2008
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SVB Financial Group is seeking a buyer after regulators closed its Silicon Valley Bank unit, which buckled under the strain of declining deposits and losses on its securities portfolio.
A transaction might involve selling the company’s assets piecemeal or as a whole, according to a person familiar with the matter. The goal is to complete a deal by Monday, the person said, asking not to be identified discussing private matters.