The Firm is representing KeyCorp (NYSE: KEY) in connection with its acquisition of First Niagara Financial Group, Inc. (NASDAQ: FNFG) for approximately $4.1 billion in stock and cash. The transaction, which is subject to Federal Reserve approval, stockholder approval and other customary closing conditions, is expected to close in the third quarter of 2016 and is one of the largest bank mergers since the financial crisis.
KeyCorp is a bank holding company that, through its principal subsidiary, KeyBank National Association, and certain other subsidiaries, provides a wide range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients. First Niagara is a bank holding company that provides financial services to individuals, families and businesses through its bank subsidiary, First Niagara Bank, N.A.
The Simpson Thacher team includes Lee Meyerson, Elizabeth Cooper, Jakob Rendtorff, Paul Bennett and Mike Arsiotis (M&A); Jonathan Goldstein and Judy Yan (Tax); Tristan Brown, Linda Barrett and Leah Segall (Executive Compensation and Employee Benefits); Mark Chorazak and Spencer Sloan (Bank Regulatory); Peter Guryan and Rick Jamgochian (Antitrust); and Steve DeLott (Insurance).