Bank of America said to buy Signature Bank: Bill Ackman

Bill Ackman in a tweet on Friday said Bank of America would acquire Signature Bank on Monday, without citing the source of the information.

“I hear that @BankofAmerica is going to buy Signature Bank on Monday. Unless and until we can protect uninsured deposits, the cost of capital will rise for smaller banks, pushing them to merge or be acquired by SIB. I don’t think it’s good for America,” he said in the Tweeter.

Bill Acman
“I don’t think this is good for America,” Bill Ackman tweeted.
Patrick McMullan via Getty Images

Signature Bank did not immediately respond to a request for comment from Reuters. Bank of America declined to comment.

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