First Republic auction underway, with deal expected by Sunday
A deal is expected to be announced on Sunday night before Asian markets open, with the regulator likely to say at the same time that it had seized the lender, three of the sources said.
Citizens Financial Group Inc (CFG.N), PNC Financial Services Group (PNC.N) and JPMorgan Chase & Co (JPM.N) are among bidders vying for First Republic in an auction process being run by the Federal Deposit Insurance Corp, according to sources familiar with the matter. US Bancorp (USB.N) was also among banksthe FDIC had asked to submit a bid, according to Bloomberg.
https://www.reuters.com/markets/deals/first-republic-auction-underway-with-deal-seen-by-sunday-sources-2023-04-29/