PrivateBancorp Inc. (PVTB) and CIBC (CM) announced Thursday morning that they have entered into an amended merger agreement. Shareholders of PrivateBancorp will receive US$24.20 in cash and 0.4176 of a CIBC common share for each share of PrivateBancorp held.
PrivateBancorp has gapped open sharply higher Thursday and is now up 3.65 at $59.85 on above average volume. The stock has leaped past resistance and has set a new high for the year.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.