Bill Ackman said in a tweet on Friday that Bank of America will acquire Signature Bank on Monday, without identifying the source of the information.
“I hear @BankofAmerica will buy Signature Bank on Monday. Unless we can protect uninsured deposits, the cost of capital will increase for smaller banks, pushing them to merge or be taken over by SIBs. I don’t think that’s good for America,” he said said in the tweet.
Signature Bank did not immediately respond to a Reuters request for comment. Bank of America declined to comment.
https://nypost.com/2023/03/17/bank-of-america-said-to-buy-signature-bank-bill-ackman/ Bank of America buys Signature Bank: Bill Ackman