KeyCorp Agrees to Buy First Niagara in $4.1 Billion Deal

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  • Combination will create 13th largest commercial U.S. lender
  • First Niagara was worst performer in KBW Bank Index last year

KeyCorp, Ohio’s second-largest bank, agreed to buy First Niagara Financial Group Inc. in a $4.1 billion cash-and-stock deal that extends the company’s reach in upstate New York.

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