Silicon Valley Bank Bidding Process Gets Extension From FDIC

The Federal Deposit Insurance Corp. extended the bidding process for Silicon Valley Bank, with offers now due by late Wednesday.

(Bloomberg) — The Federal Deposit Insurance Corp. extended the bidding process for Silicon Valley Bank, with offers now due by late Wednesday.

“There has been substantial interest from multiple parties, and the FDIC and the bidders need more time to explore all options in order to maximize value and achieve an optimal outcome,” the FDIC said in a statement Monday.

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