BB&T and SunTrust

KeyCorp and First Niagara Financial Group

[−1, +1] (6/2/2019-8/2/2019)

[−1, +1] (28/10/2015-30/10/2015)

Expected return

(0.187%)

Expected return

0.704%

Actual return (Acquirer)

3.246%

Actual return (Acquirer)

(10.683%)

Actual return (Target)

4.020%

Actual return (Target)

1.624%

Abnormal return (Acquirer)

3.433%

Abnormal return (Acquirer)

(11.387%)

Abnormal return (Target)

4.207%

Abnormal return (Target)

0.920%

[−20, Close] (19/11/2021-9/12/2021)

[−20, Close] (8/7/2016-29/7/2016)

Expected return

0.474%

Expected return

0.474%

Actual return (Acquirer)

(0.924%)

Actual return (Acquirer)

3.553%

Actual return (Target)

(0.473%)

Actual return (Target)

1.559%

Abnormal return (Acquirer)

(1.398%)

Abnormal return (Acquirer)

3.079%

Abnormal return (Target)

(0.947%)

Abnormal return (Target)

1.085%