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Thursday, January 22, 2015

RBC to purchase City National in $5.4 billion deal, (NYSE: CYN), (NYSE: RY)

Royal Bank of Canada said it would purchase City National Corp, a U.S. lender serving high net worth clients, in a cash-and-stock deal valued at $5.4 billion. RBC offered $47.25 in cash and 0.7489 in shares for each City National share.

City National Corporation (the Corporation) is a bank holding company and a financial holding company. Shares of CYN fell by 0.09% or $-0.07/share to $74.57. In the past year, the shares have traded as low as $67.35 and as high as $82.34. On average, 238755 shares of CYN exchange hands on a given day and today's volume is recorded at 228466.

Royal Bank of Canada, is a Canada-based banking company. Shares of RY fell by 0.16% or $-0.1/share to $61.54. In the past year, the shares have traded as low as $61.00 and as high as $76.08. On average, 777608 shares of RY exchange hands on a given day and today's volume is recorded at 1694102.



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