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Terminate its merger with TD Bank
- First Horizon shares plummeted Thursday following an announcement it had mutually agreed to terminate its merger with TD Bank, after shares in the regional firm had fallen below its deal price and a prolonged regulatory approval process.
May 4, 2023 · May 4 (Reuters) - Canada's Toronto-Dominion Bank Group (TD.TO) on Thursday called off its $13.4 billion takeover of First Horizon Corp (FHN.N), triggering a near 40% fall in the U.S. regional...
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May 4, 2023 · First Horizon is the bigger loser as its stock plunged 43% in pre-market trading on May 4 — wiping some $3.5 billion off of its stock market capitalization.
- Peter Cohan
May 4, 2023 · A proposed First Horizon-TD Bank deal was valued at $13.4 billion when it was announced in February 2022, but banks cite regulatory uncertainty for its demise.
May 4, 2023 · First Horizon and TD Bank have called off a $13 billion deal that would have formed America’s sixth-largest bank, adding to the turmoil sweeping the country’s regional lenders.
Jun 7, 2023 · Now, First Horizon faces the challenge of retaining its deposits amid the banking crisis that has led to the collapse of three other regional banks since March.
May 4, 2023 · Stock in First Horizon slumped 32% in late afternoon trading Thursday, after its planned $13.4 billion acquisition by TD Bank was called off. The banks said they agreed to scrap the deal...
May 31, 2023 · Canada-based Toronto-Dominion Bank (TD-0.81%) recently terminated its planned $13 billion acquisition of First Horizon Corp (FHN-1.94%) after deciding that it couldn't see a reasonable path...
