June 29 (Reuters) - Canadian Imperial Bank of Commerce
CM.TO said it would buy Chicago-based PrivateBancorp Inc
PVTB.O in a cash-and-stock deal valued at about $3.8 billion
to expand its business.
CIBC said on Wednesday it would pay $47 per share for
PrivateBancorp. This represents a premium of about 31 percent,
based on the closing price of the two companies stocks on
Tuesday.