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Hollywood Bankers? City National Shares Valued At $704 Million - Bloomberg

The sale announced Thursday confers wealth to a family that built the 60-year-old bank from its roots of offering personalized service to Hollywoods elite. The lender provided a $100,000 loan to Frank Sinatra when he needed to pay a ransom pics of kim kardashian after his son was kidnapped in 1963 and lent $4.5 million to kim kardashian gallery Arnold Schwarzenegger paris hilton kim kardashian to fund his first California gubernatorial campaign in 2003. Royal Bank agreed to pay $93.80 for each share, or 26 percent more than Wednesdays closing price, the Toronto-based firm said in a statement. Canada s second-biggest lender by assets will pay about $47.25 in cash and 0.7489 of a share for each of City Nationals shares, valuing the firm at $5.4 billion. The Goldsmiths chose to take Royal Bank stock for their entire holding, the firm said. The value of Russell Goldsmiths shares doesnt include $15.7 million in exercisable options, $8 million in restricted share units and $4 million in options that cant be exercised, according to the firms most recent proxy, which refers to 2013 figures. City National has yet to release the 2014 numbers. Golden Parachute Goldsmith could have been wealthier. Hell stay on as City Nationals CEO and run Royal Banks U.S.
Source: http://www.bloomberg.com/news/2015-01-23/hollywood-bankers-city-national-shares-valued-at-704-million.html

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