Reported about 12 hours ago
Toronto-Dominion Bank aims to raise approximately $14 billion through the complete sale of its stake in Charles Schwab Corp. following a corporate restructuring prompted by a significant US money-laundering settlement. The bank will sell 184.7 million shares, which constitutes 10.1% of Schwab's common stock. This decision comes after TD settled with the US Department of Justice, agreeing to pay nearly $3.1 billion in fines. Proceeds will be partly used for stock repurchases and reinvestment in the bank's operations.
Source: YAHOO