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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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.