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CIBC Bid for PrivateBancorp Seen Failing Without Sweetner
Investors are betting that Canadian Imperial Bank of Commerce’s bid to buy PrivateBancorp will fail unless the bank raises its $4.16 billion offer for the Chicago-based lender. CIBC’s cash and stock offer is valued at $51.43 a share, about 10 percent lower than PrivateBancorp’s price of $57.23 in Monday trading….
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