KeyCorp Stock Surges After a $2.8 Billion Scotiabank Investment

Key Takeaways KeyCorp shares surged Monday morning after the bank announced a $2.8 billion investment from the Bank of Nova Scotia. Scotiabank will acquire about 163 million shares by the first quarter of 2025 after the companies receive regulatory approval. Cleveland-based KeyCorp called the investment a "unique opportunity to raise capital on attractive terms." Shares of KeyCorp (KEY) jumped Monday morning after announcing that the Bank of Nova Scotia (BNS) acquired a 14.9% stake in the bank, valued at ro ...