SVB Financial Group (NASDAQ: SIVB), the parent of Silicon Valley Bank, is to acquire Boston Private Financial Holdings, Inc. (NASDAQ: BPFH), the parent company of Boston Private Bank & Trust Company, a provider of integrated wealth management, trust and banking services to individuals, families, businesses and nonprofits.
Under the terms of the merger agreement, Boston Private shareholders will receive 0.0228 shares of SVB common stock and $2.10 of cash for each Boston Private share they own, representing a total consideration value of approximately $900 million based on SVB’s closing stock price of $387.83 on December 31, 2020.
The acquisition of Boston Private accelerates SVB’s private bank and wealth management offering, strengthening SVB’s overall platform.
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NEW YORK, Jan. 7, 2021 /PRNewswire/ Halper Sadeh LLP, a global investor rights law firm, announces it is investigating the following companies:
Change Healthcare Inc. (NASDAQ: CHNG)
concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to Optum, a company that is part of UnitedHealth Group. Under the merger agreement, Change Healthcare shareholders will receive $25.75 per share in cash.
If you are a Change Healthcare shareholder,
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Boston Private Financial Holdings, Inc. (NASDAQ: BPFH) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to SVB Financial Group. Under the terms of the merger agreement, Boston Private shareholders will receive 0.0228 shares of SVB common stock and $2.10 of cash for each share of Boston Private they own.