Canada's CIBC to pay $3.8 billion for PrivateBancorp, expand in U.S.

Jun 29, 2016 · Canadian Imperial Bank of Commerce said it will buy Chicago-based PrivateBancorp Inc in a $3.8 billion cash-and-share deal, its biggest ever acquisition and a long-awaited expansion in U.S wealth ...

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Canada's CIBC To Pay $3.8 Billion For PrivateBancorp, Expand In U.S.

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Canada's CIBC To Pay $3.8 Billion For PrivateBancorp, Expand In U.S.

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Jun 29, 2016 · Canadian Imperial Bank of Commerce said it will buy Chicago-based PrivateBancorp Inc in a $3.8 billion cash-and-share deal, its biggest ever acquisition and a …

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Chicago’s PrivateBancorp To Be Sold To Toronto-based CIBC For …

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Jun 29, 2016 · The Chicago-based parent of PrivateBank will be acquired by Toronto-based CIBC for $3.8 billion, further opening the Canadian bank’s door to the lucrative U.S. wealth …

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CIBC To Buy PrivateBancorp For Almost $5B In Friendly Deal

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Jun 29, 2016 · CIBC is offering to buy Chicago-based PrivateBancorp, Inc. in a friendly deal valued at $4.9 billion, or $3.8 billion US, as it seeks to grow its presence in the U.S. banking …

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Canada's CIBC To Buy U.S.-based PrivateBancorp In $3.8 Bln Deal

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Jun 29, 2016 · Canadian Imperial Bank of Commerce said it would buy Chicago-based PrivateBancorp Inc in a cash-and-stock deal valued at about $3.8 billion to expand its business.

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CIBC To Acquire PrivateBancorp, Inc. - Jun 29, 2016 - Media Centre

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Jun 29, 2016 · CIBC will pay US$18.80 in cash and 0.3657 of a CIBC common share for each share of PrivateBancorp common stock. Based on the June 28, 2016 closing price of CIBC's …

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CIBC Grows U.S. Business With $3.8-billion Deal For PrivateBancorp

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Jun 29, 2016 · At $3.8-billion – split between $1.5-billion in cash and 29.5 million CIBC shares – Wednesday's deal values PrivateBancorp at $47 a share, or 24 per cent above its average …

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Canadian Imperial Bank Of Commerce’s U.S. Foray Through …

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Jun 29, 2016 · Canadian Imperial Bank of Commerce scooped up Chicago-based PrivateBancorp Inc. in a $4.9-billion deal Wednesday, as analysts say Canada’s banks are seeking out more …

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Canada's CIBC To Pay $3.8 Billion For PrivateBancorp, Expand In U.S.

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Jun 29, 2016 · By Matt Scuffham and John Tilak TORONTO (Reuters) - Canadian Imperial Bank of Commerce said it will buy Chicago-based PrivateBancorp Inc in a $3.8 billion cash-and …

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Canada’s CIBC To Buy US-based PrivateBancorp In $3.8 Bn Deal

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Jun 29, 2016 · Canadian Imperial Bank of Commerce said it would buy Chicago-based PrivateBancorp Inc in a cash-and-stock deal valued at about $3.8 billion to expand its …

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CIBC Expands In US With $3.8 Billion PrivateBancorp Deal

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Jun 30, 2016 · Canada's CIBC is to acquire PrivateBancorp, the $17.7 billion Chicago-based commercial bank with strong wealth management capabilities, in a cash and stock deal valued …

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Canada’s CIBC To Pay $3.8 Bln For PrivateBancorp, Expand In U.S.

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Jun 29, 2016 · By Matt Scuffham and John Tilak TORONTO (Reuters) – Canadian Imperial Bank of Commerce said it will buy Chicago-based PrivateBancorp Inc in a $3.8 billion cash-and …

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UPDATE 3-Canada's CIBC To Pay $3.8 Bln For PrivateBancorp, …

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Jun 29, 2016 · UPDATE 3-Canada's CIBC to pay $3.8 bln for PrivateBancorp, expand in U.S.

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Canada's CIBC Is Buying Chicago's PrivateBancorp For $3.8 Billion

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Jun 29, 2016 · One of Canada’s Biggest Banks Is Buying Chicago’s PrivateBancorp BY Reuters A Canadian Imperial Bank of Commerce (CIBC) sign is seen outside of a branch in Ottawa, …

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PrivateBancorp Shareholders Approve Takeover By Canada's CIBC

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May 12, 2017 · PrivateBancorp shareholders on Friday voted to approve a C$4.9 billion ($3.6 billion) purchase by Canadian Imperial Bank of Commerce, ending an 11-month takeover saga.

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FAQs about Canada's CIBC to pay $3.8 billion for PrivateBancorp, expand in U.S. Coupon?

Is CIBC a big company outside of Canada?

Wednesday’s deal represents one of the biggest for CIBC outside of Canada and gives it a sizable footprint in the U.S. Midwest. PrivateBancorp offers retail, commercial and wealth management services under the brand name The PrivateBank, with the majority of its branches in the Chicago area. ...

Does CIBC own PrivateBank?

Canadian Imperial Bank of Commerce (CIBC) has entered into a definitive agreement to acquire PrivateBancorp, Inc. and its subsidiary, The PrivateBank, a high-qualityChicago-based middle market commercial bank with US$17.7 billion in assets, complemented by private banking and wealth management capabilities. ...

How did PrivateBancorp & CIBC compare?

PrivateBancorp’s stock spiked 23 per cent to close at US$44.29 on the news, while CIBC saw its stock pull back 2.5 per cent, or $2.56, to $97.92. CIBC chief financial officer Kevin Glass said during the conference call that the takeover is expected to trim earnings by 12 cents a share in first year after deal closes. ...

How much is CIBC stock worth?

Based on the June 28, 2016 closing price of CIBC's common shares on the New York Stock Exchange (US$77.11), the total transaction value is approximately US$3.8 billion (C$4.9 billion) or US$47.00 of value per share of PrivateBancorp common stock at announcement. ...

How much money does CIBC have?

The bank had total assets of CAD896.8bn ($675.5bn) and deposits of CAD678.5bn by the end of the third quarter of fiscal year 2022 and primarily catered to US and Canadian customers. The CIBC was formed as a result of a merger between the Canadian Bank of Commerce and the Imperial Bank of Canada in 1961. ...

How will CIBC & PrivateBancorp's proposed transaction work?

The proposed transaction between CIBC and PrivateBancorp, Inc. will be submitted to PrivateBancorp’s stockholders for their consideration. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. ...