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Silicon Valley Bank lends to venture capital-backed start-ups in areas such as technology and life sciences.
Andrei Stanescu/Dreamstime.com
SVB Financial Group plummeted Friday before trading in the stock was was halted for news pending.
The Wall Street Journal reported the bank is seeking a buyer after the lender canceled a plan to shore up its finances through a capital raise. The Journal report cited people familiar with the matter. Barron’s has reached out to SVB for comment.
