JPMorgan Chase & Co and PNC Financial Service Group Inc are among those in talks about acquiring SVB Financial Group in a deal that would exclude its commercial banking unit Silicon Valley Bank that is currently under US control, Axios reported on Monday citing sources.
Apollo Management and Morgan Stanley are also part of the discussions, Axios reported, adding Apollo was interested in financing a deal or acquiring some of the business.
None of the firms immediately respond to Reuters’ request for comment.
Reuters reported on Sunday that Silicon Valley Bank had received interest from PNC and Royal Bank of Canada but that had cooled on Sunday as US regulators invited bids for the failed lender.
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The US Federal Deposit Insurance Corporation (FDIC) had given a Sunday afternoon deadline for bids for the failed Silicon Valley Bank, Reuters reported.
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