Davis Polk Advises JPMorgan Chase in Acquisition of First Republic Bank

▤ Summary

Yes, yes, First Republic Bank is a mess and JPMorgan Chase, advised by Davis Polk & Wardwell, did have to buy the bank out to stop it from going under (O’Melveny & Myers advised a committee of the independent board of directors for FRB). But the rest of the week in M&A was quite strong. In the deal, JPMorgan acquired about $173 billion in loans and $30 billion in securities and will assume responsibility for $92 billion in deposits, including $30 billion in large bank deposits.

▦ Linked Companies