- American City Business Journals•9 hours ago
KeyCorp incurred $45 million in acquisition-related charges during the second quarter as the Cleveland-headquartered lender continued to move through the process of purchasing First Niagara Financial Group Inc. The charges – which were nearly double what KeyCorp (KEY) spent on the acquisition during the first quarter – contributed to a 16.1 percent decline in net income. KeyCorp is days away from acquiring Buffalo-based First Niagara (FNFG).
- American City Business Journals•11 hours ago
KeyCorp's estimated $3.6 billion acquisition of First Niagara Financial Group remains on track to complete by Aug. 1, said CEO Beth Mooney in the bank's quarterly earnings announcement on Tuesday. "Significant progress is being made as we move toward integration, including plans for our combined branch network that were shared earlier this month,” Mooney said in the bank's quarterly earnings report. Once the acquisition is complete, KeyCorp, headquartered in Cleveland, can set forward the plans it has laid out over the last few months to merge First Niagara's operations.
First Niagara Financial Group Inc.NasdaqGS
After hours: 10.200.02 (0.20%) as of 4:55 PM EDT
|Bid||1.70 x 200|
|Ask||10.50 x 900|
|52wk Range||8.54 - 11.22|
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