ALBANY, N.Y. — KeyCorp and First Niagara Financial Group have will sell 18 of First Niagara’s New York branches to satisfy antitrust issues arising from the planned merger.
The Justice Department said Thursday it required the divestitures as part of Cleveland-based KeyCorp’s proposed $4.1 billion acquisition of First Niagara.
KeyCorp would become the nation’s 13th largest bank. The deal is still subject to Federal Reserve System approval.
KeyCorp operates in Washington, Oregon and 10 other states. First Niagara has branches in New York, Pennsylvania, Connecticut and Massachusetts.
