Toronto, January 22, 2015 -- On 22 January 2015, the Royal Bank of Canada (RBC; Aa3 negative; C+/a2 stable) announced the acquisition of City National Corporation (CN; A3 stable) and its subsidiary City National Bank (A2 stable; C+/a2 stable) for approximately $5.4 billion (CAD6.6 billion) -- $2.7 billion in cash and around 44 million RBC common shares (approximately 50%/50%).

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