TD Bank in talks to extend First Horizon merger deadline
TD CEO affirms that the deal is unlikely to close by the May 27 deadline but talks with First Horizon remain open.
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TD CEO affirms that the deal is unlikely to close by the May 27 deadline but talks with First Horizon remain open.
The transaction date has been moved from Feb. 27 to May 27, in accordance with the terms of the merger agreement.
According to the CEO of Toronto-Dominion Bank, the deal has been delayed due to U.S. regulatory oversight as well as the drafting of a community benefits agreement.
“The Southeast and the south of the U.S. was particularly important to us strategically,” Toronto-Dominion Bank CEO Bharat Masrani said. He noted that the region’s population growth is expected to be 50% higher than the national average.
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