Scotiabank announced today that it has entered into an agreement to acquire an approximate 14.9% pro-forma ownership stake in KeyCorp through an issuance of common shares at a price of $17.17 per share, representing an 11% premium to the volume weighted average price for the last 20 trading days. The total cash consideration is approximately US$2.8 billion.
Market Insights
An industry shift from a trade date plus two days (T+2) to a trade date plus one day (T+1) settlement cycle to be implemented May 24, 2024.
