“March 12 (Reuters) - Bank of London has tabled an offer to Silicon Valley Bank UK, SVB's subsidiary, the company said on Sunday, adding that it had sent the proposals to British authorities, including the Treasury and the Bank of England.
Bank of London, a clearing bank, is leading a consortium of investors including private equity funds, which has submitted what it described as formal proposals.
"Silicon Valley Bank cannot be allowed to fail given the vital community it serves," Bank of London co-founder and CEO Anthony Watson said in a statement.“