Shares of PacWest Bancorp (PACW) are now down $2.38, or 23%, to $8.16 in late afternoon trading after The Wall Street Journal said Banc of California (BANC) is in advanced talks to buy PacWest Bancorp (PACW) and a deal could be announced as soon as today. Banc of California shares are up $2.25, or 17%, to $15.40 near 3:15 pm ET following the Journal’s deal report.
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Read More on PACW:
- BANC and PACW Gain on Merger Agreement
- PacWest Bancorp Announces Results for the Second Quarter 2023
- Banc of California and PacWest Announce Transformational Merger and $400 Million Equity Raise from Warburg Pincus and Centerbridge
- PacWest Bancorp trading resumes
- Banc of California rises, PacWest falls after WSJ report of merger talks