Scotiabank concludes $2bn stake acquisition in KeyCorp [Yahoo! Finance]
KeyCorp (KEY)
Last keycorp earnings: 4/16 06:30 am
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Source: Yahoo! Finance
The transaction follows an agreement announced on 12 August 2024. The completion of this investment marks the end of Scotiabank's two-phase plan to acquire a minority stake in KeyCorp. Last month, Scotiabank obtained the approval from the Board of Governors of the US Federal Reserve System to execute the second phase of its investment, which involved purchasing a further 10% stake in KeyCorp. The initial phase, which provided Scotiabank a 4.9% stake, was announced in August 2024. Scotiabank expects this investment to have a positive impact on its earnings per share within the first year following the completion of the additional investment. As part of the agreement, Scotiabank has the right to nominate two individuals to the KeyCorp board of directors. These nominations include a senior officer and an independent third-party director, subject to KeyCorp's consent. Scotiabank president and CEO Scott Thomson earlier said: “This strategic investment in KeyCorp, a premier b
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News
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- KeyCorp (NYSE: KEY) had its price target raised by analysts at Barclays PLC from $19.00 to $21.00. They now have an "equal weight" rating on the stock.MarketBeat
- KeyBank Appoints Robert Weiss to Lead Family Wealth Business [Yahoo! Finance]Yahoo! Finance
- KeyBank Appoints Robert Weiss to Lead Family Wealth BusinessPR Newswire
KEY
Earnings
- 10/17/24 - Beat
KEY
Sec Filings
- 1/6/25 - Form 3
- 1/6/25 - Form SCHEDULE
- 1/3/25 - Form 3
- KEY's page on the SEC website