Davis Polk is advising J.P. Morgan Securities as financial adviser to First Niagara Financial Group in connection with its approximately $4.1 billion acquisition by KeyCorp. The transaction, which is expected to close in the third quarter of 2016, is subject to customary closing conditions, including regulatory approvals and approval by KeyCorp and First Niagara shareholders.

First Niagara, through its wholly owned subsidiary, First Niagara Bank, N.A., is a multistate community-oriented bank with approximately 390 branches, $39 billion in assets, $29 billion in deposits and approximately 5,400 employees. KeyCorp, one of the nation’s largest bank-based financial services companies, was organized more than 160 years ago and is headquartered in Cleveland, Ohio.

The Davis Polk corporate team includes partner William L. Taylor and associate Samuel Burley. All members of the Davis Polk team are based in the New York office.

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