Bank of America buys Signature Bank: Bill Ackman

DUSTIN JONESMarch 17, 2023

25

Bank of America buys Signature Bank: Bill Ackman

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.

Tweet Bill Ackman — Investor Bill Ackman tweeted that Bank of America would buy Signature Bank.

Bill Ackman — “I don’t think this is good for America,” tweeted Bill Ackman.

signature bank — Bill Ackman said smaller banks are being pushed to merge with or be acquired by SIBs.

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

DUSTIN JONESMarch 17, 2023

25

DUSTIN JONES

DUSTIN JONES is a USTimeToday U.S. News Reporter based in London. His focus is on U.S. politics and the environment. He has covered climate change extensively, as well as healthcare and crime. DUSTIN JONES joined USTimeToday in 2021 from the Daily Express and previously worked for Chemist and Druggist and the Jewish Chronicle. He is a graduate of Cambridge University. Languages: English. You can get in touch with DUSTIN JONES by emailing dustinjones@ustimetoday.com.