UPDATE 1-KeyCorp to buy First Niagara for $4.1 bln

October 30, 2015 10:53 AM

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Oct 30 (Reuters) - Cleveland-based KeyCorp said on Friday it will buy Buffalo-based First Niagara Financial Group Inc for $4.1 billion, one of the largest deals among U.S. regional banks this year.

KeyCorp offered $11.40 per share - 0.68 of its shares and $2.30 in cash - for each First Niagara share, representing a premium of 9.8 percent to the stock's close on Thursday.

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