IFLR1000

KeyCorp $4.1 billion acquisition of First Niagara

29/7/2016
Public acquisition
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$ 4.1 billion

Completed

29/7/2016

Overview:

  • KeyCorp, a Cleveland, Ohio-based bank, has acquired First Niagara Financial Group, a Buffalo, New York-based bank.
  • First Niagara shareholders obtained .68 KeyCorp shares and $2.30 for each First Niagara common share. 
  • The acquisition gave KeyCorp 304 First Niagara branches in New York, Pennsylvania, Connecticut and Massachusetts. 

Rani Mehta - Journalist 

Jurisdiction:

United States

Deal type:

Public acquisition

Practice area:

M&A

Industry sector:

Banking

Firms:
Simpson Thacher & Bartlett

Party: KeyCorp (Acquirer)

Lawyers: Elizabeth Cooper, Lee Meyerson

Sullivan & Cromwell

Party: First Niagara Financial Group (Target)

Lawyers: C Andrew Gerlach, H Rodgin Cohen

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