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CIBC has Agreed to Buy PrivateBancorp in $3.8 Billion Cash and Stock Deal

Thu, 06/30/2016 - 08:37

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Toronto, Canada based Canadian Imperial Bank of Commerce (CIBC) agreed on Wednesday to buy PrivateBancorp Inc. based in Chicago for $3.8 billion cash and stock deal.

That makes it one more Canadian lender to join the list of companies who are betting on U. S. market growth and are looking at diversifying their business beyond their home territory.

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