According to the Wall Street Journal, several banks, including JPMorgan Chase and Morgan Stanley, are in talks with First Republic Bank for a potential deal.
The report cites people familiar with the matter.
The deal being discussed could involve capital infusion to bolster the troubled lender after the collapse of SVB Financial last week triggered fears of a contagion.
The report also indicates that a full takeover of First Republic Bank is a possibility, although it is less certain.
In response to requests for comment, JPMorgan and First Republic Bank did not immediately respond to Reuters, while Morgan Stanley declined to comment.
Following the news, First Republic Bank’s shares fell by 26% to $22.89.
»Full takeover of First Republic Bank possible as talks with JPMorgan and Morgan Stanley continue«
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