TD's market capitalization surpasses Royal
Article Abstract:
Toronto-Dominion Bank is currently valued by the stock market at C$22.8 billion, surpassing the Royal Bank of Canada as the country's largest bank. Its stock closed on Apr 7, 1999, at a new 52-week high of C$78.50, spurred by the bank's announcement of the planned IPO of 10% of its entire discount brokerage operation. Toronto-Dominion, which reported assets of C$181.3 million at the end of 1998, is expected to generate C$700 million-C$1 billion from the planned IPO.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Failed merger to cost shareholders
Article Abstract:
CT Financial Services Inc's failure to acquire Surrey Metro Savings Credit Union for C$131 million will cost stockholders of the two firms over C$1 million. Surrey Metro stockholders supported the deal, but its clients rejected the planned acquisition by London, Ontario-based CT Financial. Surrey Metro, which is the lone credit union in Canada, will write a one-time charge in the 1st qtr of FY 1999 to cover the costs of the failed deal.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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