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Canadian Imperial Bank of Commerce (CM)

CM on New York Consolidated

78.29USD
26 May 2017
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$0.21 (+0.27%)
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Latest Key Developments (Source: Significant Developments)

CIBC announces increase to preferred share issue
Thursday, 25 May 2017 03:06pm EDT 

May 25 (Reuters) - Canadian Imperial Bank Of Commerce :Cibc announces increase to preferred share issue.Canadian imperial bank of commerce says gross proceeds of offering will now be $800 million.Canadian imperial bank - domestic public offering of non-cumulative rate reset class a preferred shares, series 45, size of offering increased to 32 million shares.  Full Article

Privatebancorp stockholders approve acquisition by CIBC
Friday, 12 May 2017 10:11am EDT 

May 12 (Reuters) - Privatebancorp Inc :Privatebancorp stockholders approve acquisition by cibc.Privatebancorp Inc - companies are confident that remaining closing conditions will be satisfied in time to close transaction in June 2017.  Full Article

CIBC and PrivateBancorp announce increase in consideration under amended merger agreement
Thursday, 4 May 2017 07:30am EDT 

May 4 (Reuters) - Canadian Imperial Bank Of Commerce :Cibc and privatebancorp announce increase in consideration under amended merger agreement.Privatebancorp inc - terms provide additional us$3.00 cash.Privatebancorp inc- amendment that increases cash consideration under previously amended merger agreement.Privatebancorp inc - privatebancorp board of directors unanimously recommends stockholders vote in favor of amended agreement.Privatebancorp inc- amended agreement values privatebancorp at approximately us$4.9 billion.Privatebancorp - under amended agreement, consideration in aggregate will be $27.20 in cash, 0.4176 of cibc share for each share of co held.Privatebancorp inc- terms of amended agreement represent cibc's best and final offer to privatebancorp stockholders.Privatebancorp - cibc to satisfy consideration payable to co by paying about us$2.2 billion in cash and issuing approximately 33.5 million cibc common shares.Privatebancorp inc - cibc expects transaction will be accretive to earnings per share within three years of closing date.Privatebancorp inc - cibc intends to adjust anticipated june 28, 2017 record date for its next quarterly dividend.  Full Article

BRIEF-PrivateBancorp says termination fee in CIBC deal revised to $198 mln
Thursday, 30 Mar 2017 01:14pm EDT 

Corrects headline to say termination fee was revised; termination fee now $198 mln, not $150 mln.PrivateBancorp Inc : Amendment to agreement and plan of merger with Canadian Imperial Bank of Commerce (CIBC) revises amount of termination fee to be $198 million - SEC filing . Original merger agreement provided that termination fee of $150 million would be payable by PrivateBancorp to CIBC upon termination of merger agreement Source: http://bit.ly/2njFgTI Further company coverage: [PVTB.O] [CM.TO] ((bangalore.newsroom@thomsonreuters.com;)) Keywords: (CORRECTED).  Full Article

CIBC, Privatebancorp announce revised merger agreement
Thursday, 30 Mar 2017 09:15am EDT 

Privatebancorp Inc : Cibc and Privatebancorp announce revised merger agreement . Privatebancorp Inc - stockholders will receive, upon completion of proposed merger with CIBC, US$24.20 in cash and 0.4176 of a CIBC common share . Privatebancorp Inc - amended agreement values Privatebancorp at approximately 2.7 times tangible book value as of December 31, 2016 . Privatebancorp Inc - CIBC estimates that completion of transaction will contribute approximately US$340 million (c$450 million) of net income in fiscal 2020 . Privatebancorp Inc - board unanimously supports amended terms and continues to recommend that Privatebancorp stockholders approve transaction . Privatebancorp Inc-CIBC estimates that completion of transaction wil become accretive to CIBC's earnings per share within three years of closing date . Privatebancorp Inc - CIBC expects to maintain a "strong" common equity tier (cet) 1 ratio at closing above 10 per cent .Privatebancorp Inc - amended agreement values privatebancorp at approximately US$4.9 billion.  Full Article

CIBC receives TSX approval for normal course issuer bid
Friday, 10 Mar 2017 09:00am EST 

Canadian Imperial Bank Of Commerce : CIBC receives TSX approval for normal course issuer bid .Canadian Imperial Bank Of Commerce- the approval would permit CIBC to purchase for cancellation from time to time up to eight million common shares.  Full Article

CIBC says banks and insurance companies announce canadian business growth fund of up to $1 bln
Thursday, 9 Mar 2017 10:00am EST 

Canadian Imperial Bank Of Commerce : banks and insurance companies announce canadian business growth fund of up to $1 billion . typical investment amounts in each company will range between $3 million and $20 million .fund expected to have initial capital commitments of over $500 million, with possibility for future contributions of up to $1 billion.  Full Article

Canadian Imperial Bank of commerce files for short form base shelf prospectus
Wednesday, 8 Mar 2017 05:20pm EST 

Canadian Imperial Bank Of Commerce :Files for short form base shelf prospectus of up to $10 billion - SEC filing.  Full Article

Canadian Imperial Bank Of Commerce files for debt shelf of up to $ 6 bln
Monday, 27 Feb 2017 05:41pm EST 

Canadian Imperial Bank Of Commerce :Canadian Imperial Bank Of Commerce files for debt shelf of up to $ 6 billion.  Full Article

CIBC to take 'disciplined' approach to PrivateBancorp bid
Thursday, 23 Feb 2017 08:30am EST 

Canadian Imperial Bank Of Commerce : Cibc ceo says privatebancorp would be better bank under cibc's ownership but cibc will take "disciplined" approach . Cibc ceo says believes bank make must have u.s. Exposure in long-term . Cibc ceo says organic investment is a priority along with continuing to grow dividends . Cibc ceo says may have to be more active in buying back stock if not able to consumate privatebancorp deal .Cibc retail head says "feels good" about nature of bank's mortgage growth.  Full Article

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