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Briefing
Finance

TD Bank, First Horizon Terminate Merger

By
Michael Roddan
· · Source: The Information

Canadian lender TD Bank Group called off its $13.4 billion merger with Tennessee-based First Horizon because of trouble gaining regulatory approvals, sending shares in the smaller bank down 33% on Thursday. The Toronto banking group will pay First Horizon $200 million in cash in addition to a $25 million reimbursement due to the collapse of the deal, which was announced more than a year ago....

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