KeyCorp to Acquire First Niagara Financial for $4.1 Billion; Purchase represents latest sign bank deals are coming back

First Niagara shareholders will receive 0.68 KeyCorp shares and $2.30 in cash for each First Niagara common share, representing a per share value of $11.40 based on the closing price of KeyCorp common stock Thursday. First Niagara has $39 billion in assets, putting it not far from the $50 billion th...

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Bibliographic Details
Published in:The Wall Street journal. Eastern edition 2015-10-30
Main Authors: Ensign, Rachel Louise, Glazer, Emily, Cimilluca, Dana
Format: Newspaper Article
Language:English
Subjects:
Bank acquisitions & mergers
Banking industry
Economic crisis
Interest rates
Regional banks
Writedowns
Online Access:Get full text
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Summary:First Niagara shareholders will receive 0.68 KeyCorp shares and $2.30 in cash for each First Niagara common share, representing a per share value of $11.40 based on the closing price of KeyCorp common stock Thursday. First Niagara has $39 billion in assets, putting it not far from the $50 billion threshold that would make the bank a systemically important financial institution and subject it to the Federal Reserve's stress tests.
ISSN:2574-9579