Canadian Imperial Bank of Commerce declined to comment on a report Friday that it is set to announce a $500 million agreement to buy midsize U.S. brokerage Oppenheimer & Co.

The report by Reuters, which cited sources close to the deal, is the latest to link Oppenheimer to a commercial bank.

Oppenheimer, which has acknowledged it is for sale, has been linked to CIBC and PNC Bank Corp., Pittsburgh.

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