KeyCorp (KEY) Stock Hits 52-Week High on Minority Stake Sale

Shares of KeyCorp (KEY) touched a 52-week high of $17.09 yesterday before closing the session at$15.94 (marking a jump of 9.1%). The surge was driven by the news of an investment of $2.8 billion by The Bank of Nova Scotia (BNS) in KeyCorp. Canada's BNS will acquire approximately a 14.9$17.17 per share, representing a premium of 7.7% at the previous day's closing price. For BNS, the step marks a massive advancement as it tries to expand operations in North America. De ...