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Bullboard - Stock Discussion Forum Bank of Nova Scotia T.BNS

Alternate Symbol(s):  BNS

The Bank of Nova Scotia (the Bank) is a Canadian chartered bank. The Bank's segments include Canadian Banking, International Banking, Global Wealth Management, Global Banking and Markets, and Other. The Canadian Banking segment provides a full suite of financial advice and banking solutions. The International Banking segment is a diverse franchise offering financial advice and solutions to... see more

TSX:BNS - Post Discussion

Bank of Nova Scotia > Morningstar: BNS Plans to Acquire 14.9% Stake in KeyCorp
View:
Post by Quintessential1 on Aug 13, 2024 8:48am

Morningstar: BNS Plans to Acquire 14.9% Stake in KeyCorp

Could very well have been perfect timing for this green CEO. With a FED rate cut almost a certainty Keycorps value will rise.  A nice way to dip your toe in the US market without too much exposure.

"Scotiabank is getting a decent price. KeyCorp’s shares never fully recovered from the banking crisis in 2023, and the acquisition price is modestly below our fair value estimate. We do not expect a material change in our fair value estimate for Scotiabank as a result of the announcement. With a total purchase price of USD 2.8 billion, compared with Scotiabank's market capitalization of around USD 54 billion, the deal is simply too small to drive a substantial shift in our thesis."

Sit back, average down if you can or need to,  collect your dividend and wait for the inevitable rise.

GLTA
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