TD Bank Scraps Purchase of First Horizon Amid Regional Bank Crisis

Posted on AllSides May 4th, 2023
From The Center

Toronto-based TD Bank was set to buy Tennessee-based First Horizon Corp oration in an all-cash $13.4 billion deal that would have expanded the Canadian company’s U.S. footprint. Now, the deal is off. TD Bank cited regulatory hurdles as a factor in the collapse of the deal, which was announced last year, according to the companies on Thursday. It’s more bad news for the regional banking sector which has been in turmoil since a crisis hit in early March. In recent weeks, several U.S. banks have failed and shares of regional...

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