Description: PrivateBancorp Inc. investors approved a $4.9 billion takeover by Canadian Imperial Bank of Commerce after the Toronto-based lender sweetened its deal twice to win over shareholders.

Source: Bloomberg.com

Date: May 12, 2017

Link: https://www.bloomberg.com/news/articles/2017-05-12/privatebancorp-holders-approve-4-9-billion-cibc-takeover-offer

Questions for discussion:

• Why is this a good deal for both parties?
• What are the risks going forward?