First Republic interest may have cooled SVB auction, CNBC reports

The ongoing sales process for First Republic (FRC) may have cooled interest in the assets for SVB Financial (SIVB), Hugh Son of CNBC reports, citing a person with knowledge of the process. Some potential acquirers held off on the SVB auction because they hoped to make a bid on First Republic, which they coveted more, the person told CNBC. Reference Link