HSBC says it is acquiring Silicon Valley Bank UK for £1; as of March 10, SVB UK had loans of ~£5.5B and deposits of ~£6.7B (Iain Withers/Reuters)

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Iain Withers / Reuters:

HSBC says it is acquiring Silicon Valley Bank UK for £1; as of March 10, SVB UK had loans of ~£5.5B and deposits of ~£6.7B  —  HSBC (HSBA.L) said on Monday it is acquiring the UK subsidiary of Silicon Valley Bank for 1 pound.  —  “This acquisition makes excellent strategic sense …