First Republic slumps after report of potential government backing in deal
(Reuters) -Shares of First Republic Bank tumbled 14% in extended trade on Tuesday following a report that a potential deal for the troubled bank could rely on government backing to encourage buyers. The steep drop partially reversed the nearly 30% rally in the stock during regular trade. The government could play a role in taking out assets that have eroded First Republic’s balance sheet, Bloomberg reported, citing people with knowledge […]