BUZZ-City National Corp: To be bought by Royal Bank of Canada

Thu Jan 22, 2015 8:31am EST
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** Shares of the U.S. lender serving high net worth clients up 5.7 pct at $78.83 premarket

** Royal Bank of Canada says to buy City National for $5.4 bln deal to expand in the United States

** Total offer of $93.80 per share, based on RBC's closing price of $62.16 on the NYSE Wednesday, represents premium of nearly 26 pct to City National's closing price

** Up to Wednesday's close, City National shares had lost 7.7 pct this year

** RBC's U.S.-listed shares were down less than 1 pct premarket