Silicon Valley Bank Financial in talks to sell itself after attempts to raise capital have failed

https://www.cnbc.com/2023/03/10/silicon-valley-bank-financial-in-talks-to-sell-itself-after-attempts-to-raise-capital-have-failed-sources-say.html

SVB Financial, parent of Silicon Valley Bank, is in talks to sell itself, sources told CNBC’s David Faber. Attempts by the bank to raise capital have failed, the sources said. Large financial institutions are looking at a potential purchase of SVB. Shares of the bank fell 60% on Thursday after SVB announced a plan Wednesday evening to raise more than $2 billion in capital. The stock fell another 60% in premarket trading Friday.