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$KEY plans to close the First Niagara Financial Group acquisition on August 1. The merger of KeyBank and First Niagara Bank is planned for 4Q16. $KEY expects the deal to be accretive to earnings in 2017 and add 5% to EPS upon the full realization of cost savings. $KEY expects to increase return on tangible common equity by 200BP.
$WBA is yet to receive US anti-trust clearance for its Rite Aid acquisition. The deadline for the deal expires on January 27.
$BMY plunge 7.2%. No credits to the non-acceleration of approval for lung cancer combination treatment.
Well this is big! I don’t know if it’s someone’s monopoly or genuine excitement, but either way, $CSX is up 23% after market closed. I heard some activist investor is going to blow big money into CSX Corp. Anyone mind explaining?