KEY Stock Surge Alert: What's Going On With KeyCorp Shares Today?

KeyBank (NYSE:KEY) is among today's biggest movers, with KEY stock surging by as much as 14% this morning. This is in response to news that Canadian lender Bank of Nova Scotia (NYSE:BNS), also known as Scotiabank, has acquired 14.9% of the regional U.S. lender for $2.8 billion. At this valuation, Scotiabank has paid a premium for KEY stock, pricing the company at a valuation of around$18.8 billion. Accordingly, the market has been quick to reprice shares of KEY stock, with the stock still reflecting a disc ...