KeyCorp agrees tp buy McDonald & Co. for about $653 million

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.

Comment:

Key Corp to acquire McDonald for approximately $653 million

Commercial Banks, Commercial Banking, Investment Banking and Securities Dealing, Investment Banking, Investment banks, KeyCorp., McDonald & Company Investments Inc.

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Charter One Financial Inc. will buy Albank Financial in stock swap valued at $865.9 million

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.

Comment:

Charter One Financial Inc. plans to acquire Albank Financial Corp. for about $865.9 mil

Savings & Loan Assns, Savings Institutions, Offices of Bank Holding Companies, Investment Holding Companies, Savings and loan associations, Charter One Financial Inc., ALBANK Financial Corp.

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