Page 2 - Anthony Dechellis News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 closin...

Acquiring Boston Private could put the parent company of Silicon Valley Bank years ahead of schedule in catering to the investment needs of high-tech and biomedical clients, whose industries have thrived during the pandemic.