The bank rate fell sharply in the after-hours trading period.
(Image: Bloomberg)
Denver Troubles continue in US regional banks after the First Republic’s bankruptcy: the future of the ailing Bacquist from Los Angeles is uncertain. The company announced Wednesday night that it has been approached by several potential partners and investors. The talks were still going on. The Company will continue to evaluate all options to maximize shareholder value. The sale is also under discussion, Reuters and Bloomberg news agencies unanimously reported, citing people familiar with the matter.
The reports spooked investors. The stock fell more than 40 percent in early trading on Thursday, after the paper was already down about 60 percent in after-hours trading on Wednesday. Since the start of the regional banking crisis in March, newspapers have lost nearly 90 percent of their value.
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