SVB Financial Group Reiterates That It Will Not Increase Purchase Price for Boston Private
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SANTA CLARA, Calif., April 30, 2021 /PRNewswire/ SVB Financial Group ( SVB ) (NASDAQ: SIVB) remains fully committed to the merger with Boston Private Financial Holdings, Inc. ( Boston Private ) (NASDAQ: BPFH) and looks forward to completing the transaction. However, in response to HoldCo Asset Management s letter, SVB is reiterating that under no circumstance will it increase the purchase price, including if the deal is not approved by Boston Private s shareholders.
About SVB Financial Group
For more than 35 years, SVB Financial Group (NASDAQ: SIVB) and its subsidiaries have helped innovative companies and their investors move bold ideas forward, fast. SVB Financial Group s businesses, including Silicon Valley Bank, offer commercial and private banking, asset management, private wealth management, brokerage and investment ser
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Boston Private Financial Holdings, Inc. (NASDAQ: BPFH)
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of
Boston Private Financial Holdings, Inc. (NASDAQ: BPFH) in connection with the proposed acquisition of the company by SVB Financial Group ( SIVB ). Under the terms of the agreement, BPFH s shareholders will receive $2.10 in cash and 0.0228 shares of SIVB common stock for each BPFH share, representing implied per-share merger consideration of approximately $13.46 based upon SIVB s April 13, 2021 closing price of $498.14. If you own BPFH shares and wish to discuss this investigation or your rights, please call us or visit our website: http://www.weisslawllp.com/bpfh/