Nvidia to Acquire Groq in $20 Billion Deal to Boost AI Chip Dominance 
Asian Markets Rise as AI Rally Caps 2025, Gold and Silver Hit Record Highs 
U.S. Stock Futures Edge Higher as Holiday-Thinned Trading Persists 
South Korean Court Clears Korea Zinc’s $7.4 Billion U.S. Smelter Project, Shares Surge 
China Industrial Profits Slump Signals Need for More Economic Stimulus 
Warner Bros. Discovery Shares Slide Amid Report of Potential Paramount Skydance Lawsuit 
Platinum Surges to Record High as Supply Crunch and Policy Shift Drive Historic Rally 
China to Tighten Crude Steel Output Controls and Export Regulation Through 2030 
Eli Lilly and Novo Nordisk Battle for India’s Fast-Growing Obesity Drug Market 
China Revises 2024 GDP Lower After Final Review, Eyes Growth in 2025 
Saks Global Weighs Chapter 11 Bankruptcy Amid Debt Pressures and Luxury Retail Slowdown 
Asian Stock Markets Trade Flat as Holiday Liquidity Thins and BOJ Minutes Watched 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccines Portfolio 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccine Portfolio 
Oil Prices Edge Higher as Strong U.S. Growth and Supply Risks Support Market 
ByteDance Plans Massive AI Investment in 2026 to Close Gap With U.S. Tech Giants 
Wall Street Ends Post-Christmas Session Flat as Investors Eye Santa Claus Rally 
SVB Financial Group announces the sale of its SVB Securities investment banking arm to its own management team, led by CEO Jeff Leerink. The deal is backed by The Baupost Group following SVB's bankruptcy filing in March.
SVB Financial Group confirmed the acquisition deal on Sunday, June 18. It announced that it has entered into an agreement with the management of SVB Securities for the sale. The buyer team is being spearheaded by Leerink and with funding support from The Baupost Group.
According to Reuters, Leerink is currently the chief executive officer of SVB Securities, and his group turned out to be the winning bidder for the buyout of SVB Financial's investment banking division. Under the agreement, the buyer will pay in a combination of three methods, including cash, repayment of an intercompany note, and a five percent equity instrument.
It was noted that the buyout agreement comes after the Federal Deposit Insurance Corporation (FDIC) took charge of the bankrupt Silicon Valley Bank three months ago as depositors rushed to withdraw their money. The effects of SVB's downfall were felt around the world, with smaller banks getting hit by the unfolding events.
"The management team and I are excited to return to our heritage of owning and leading the premier healthcare investment bank and relaunching the business under the trusted Leerink Partners brand," SVB Securities' chairman and CEO, Jeff Leerink, said in a press release. "Our firm has been a strategic advisor to our corporate and investor clients for almost three decades and this transaction allows us to continue to provide our healthcare clients with the highest quality advice and execution services they have come to expect for their M&A, capital raising, and investment needs."
He added, "I would like to thank our entire team for its incredible efforts over many years and particularly over the last few months. I also want to thank our valued clients for their continued loyalty and support."
Photo by: Mariia Shalabaieva/Unsplash
