After shares in Western Alliance had fallen 45% in volatile trading before being halted, Western Alliance Bank has become another one to go, as three U.S. regional banks have failed in the last two months.
Western Alliance WAL.N is exploring strategic options including a potential sale of all or part of its business, the Financial Times reported on Thursday citing two people briefed on the matter.
The Arizona-based bank has hired advisers to explore its options, the report added, saying the bank’s deliberations were at an early stage and might not come to anything.
Shares in Western Alliance had fallen 45% in volatile trading before being halted. The stock has shed more than 60% of its value so far this year.
The Financial Times has reported that a mysterious Mumbai-based company named Gatik Ship Management has been shipping large quantities of Russian oil.
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