City National (CYN) Misses Q4 EPS by 2c

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Royal Bank Of Canada (RY) to Acquire City National (CYN) in $5.4B Deal

January 22, 2015 7:03 AM EST

Royal Bank Of Canada (NYSE: RY) announced that it has entered into a merger agreement to acquire City National Corporation (NYSE: CYN), a premier U.S. private and commercial bank serving high net worth and commercial clients. RBC will pay, on average, approximately US$47.25 in cash and 0.7489 of an RBC common share for each share of City National common stock. City National stockholders will be entitled to elect to receive the merger consideration in RBC common shares or cash, subject to certain adjustments and limitations.... More