S&P Lowers Outlook on KeyCorp (KEY) to Negative Following Move to Acquire First Niagara (FNFG)
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KeyCorp to Acquire First Niagara Financial Group
October 30, 2015 6:30 AM EDTCLEVELAND, Oct. 30, 2015 /PRNewswire/ -- KeyCorp (NYSE: KEY) and First Niagara Financial Group  (NASDAQ: FNFG) announced today that they have entered into a definitive agreement under which KeyCorp will acquire First Niagara in a cash and stock transaction for total consideration valued at approximately $4.1 billion.
First Niagara, headquartered in Buffalo, N.Y., has $39 billion in assets and $29 billion in deposits and 394 banking offices in New York, Pennsylvania, Connecticut and Massachusetts. Â With approximately $135 billion of assets, the combined bank will be the 13th largest commercial... More
