Reported 7 months ago
National Bank of Canada has agreed to purchase Canadian Western Bank for approximately C$5 billion ($3.6 billion) in a stock deal, marking a significant merger between two of Canada's regional lenders. The acquisition will provide National Bank an opportunity to diversify its earnings beyond Quebec, where it is a dominant player, and expand its retail presence in Western Canada, particularly in Alberta and British Columbia. The deal, pending approval, is expected to conclude by the end of next year.
Source: YAHOO