Article Abstract:
The commercial bank KeyCorp is set to acquire the investment banking firm McDonald & Company Investments for roughly $653 million, planning to form a new company named Key Capital Partners. The acquisition will give KeyCorp the ability to underwrite securities, and bring its services to corporate clients in small and medium-sized organizations. It will also allow KeyCorp to expand into other capital-markets operations; the company expects to increase their revenue in this area to nearly $1 billion.
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Key Corp to acquire McDonald for approximately $653 million
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Article Abstract:
Charter One Financial Inc. is expected to acquire Albank Financial Corp. for about $865.9 million. The aquisition will make Charter One the fourth largest thrift in the nation. The acquistion of Albank comes with 109 branches in upper New York State and $4.1 billion in assets. Charter One already has 223 branches and $19.5 billion in assets. Charter One will form a single holding company for all operations cutting 30% to 35% of Albank's current operating expenses.
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Charter One Financial Inc. plans to acquire Albank Financial Corp. for about $865.9 mil
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Article Abstract:
Charter One Financial Corp. is expected to purchase Albank Financial Corp. in an approximately $1 billion stock deal. The deal is reflective of the increasing consolidation trend that is taking place in the thrift industry. The acquisition will make Charter One the fourth-largest thrift in the US with assets worth approximately $23.6 billion. Albank has approximately $4.1 billion in assets.
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