Taking to Twitter on March 17, investor and renowned short-seller Bill Ackman said Bank of America has plans to step in and acquire distressed U.S. Signature Bank, one of three banks that went into forced receivership after a crisis in the U.S. banking sector last week.
Back of America to Signature’s rescue?
I am hearing that @BankofAmerica is going to buy Signature Bank on Monday. Unless and until we can protect uninsured deposits, the cost of capital is going to rise for smaller banks pushing them to merge or be acquired by the SIBs. I don’t think this is good for America.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased