First Niagara Announces $400M Stock Offering

Law360, New York (September 23, 2009, 4:59 PM EDT) -- First Niagara Financial Group Inc. is selling approximately $400 million of common stock in a public offering, on the heels of its recent acquisition of 57 branches of PNC Financial Services Group Inc. subsidiary National City Bank, the company announced Wednesday.

The offering will be underwritten by Keefe Bruyette & Woods Inc. and Sandler O’Neill & Partners LP, according to a statement that the company registered with the U.S. Securities and Exchange Commission.

First Niagara plans to grant the underwriters an option to purchase an extra...
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