NEW YORK (TheStreet) -- Shares of City National Corp.
(CYN - Get Report)
are climbing higher by 19.08% to $88.80 in pre-market trading on
Thursday morning, following the company's announcement that it has
agreed to be acquired by Royal Bank of Canada
(RY - Get Report) for approximately $5.4 billion.
City National is a bank and financial holding company. Royal Bank of Canada is a banking company.
"This combination is a compelling opportunity. It will deliver significant value to City National shareholders along with the opportunity to participate in the growth of RBC," City National CEO Russell Goldsmith said in a statement.
Read more Click here / www.trade4x.net
City National is a bank and financial holding company. Royal Bank of Canada is a banking company.
"This combination is a compelling opportunity. It will deliver significant value to City National shareholders along with the opportunity to participate in the growth of RBC," City National CEO Russell Goldsmith said in a statement.
Read more Click here / www.trade4x.net
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