Raymond James Downgrades PrivateBancorp, Inc. (PVTB) to Market Perform
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CIBC (CM) to Acquire PrivateBancorp (PVTB) in ~$3.8B Deal
June 29, 2016 6:21 AM EDTCIBC (NYSE: CM) announced that it has entered into a definitive agreement to acquire PrivateBancorp, Inc. (Nasdaq: PVTB) and its subsidiary, The PrivateBank, a high-quality Chicago-based middle market commercial bank with US$17.7 billion in assets, complemented by private banking and wealth management capabilities.
The transaction will significantly expand CIBC's reach in North America, and enable PrivateBancorp to continue building on its record of growth and client service under the leadership of its current management team. The acquisition will create a platform for CIBC to deliver U.S. banking... More
