US: Shareholders approve FirstNiagara, Keycorp merger

Shareholders from First Niagara Financial Group and KeyCorp voted Wednesday in favor of a merger between the two companies.

A press release announcing the vote indicated that shareholders approved the merger during special meetings held in Buffalo by First Niagara and Cleveland by KeyCorp. Out of the votes cast at each of the special meetings, over 90 percent were in favor of the merger, according to the release.

“We are very pleased that First Niagara shareholders have overwhelmingly demonstrated their support for the merger with KeyCorp. This is an important step in bringing our two companies together for the benefit of our customers, employees, shareholders and the communities we serve,” said Gary M. Crosby, Chief Executive Officer, First Niagara Financial Group.

“I would like to thank our shareholders for their support and their vote of confidence,” said Beth Mooney, Chairman and CEO, KeyCorp. “KeyBank and First Niagara are indeed Better Together – a powerful combination that will bring a new level of capabilities and expertise to our clients; new opportunities for our employees; and even greater investment in our communities. Our integration efforts are on track, and we remain both confident in and committed to achieving the financial and growth targets of the First Niagara acquisition.”

Full content: EconoTimes

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.