National Bank to buy Edmonton-based Canadian Western Bank in $5B deal

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By Staff The Canadian Press

Posted June 11, 2024 5:50 pm

1 min read

 'Small complaint trim not capable to get astir Canadians disconnected lodging marketplace sidelines'

1:41 Small complaint trim not capable to get astir Canadians disconnected lodging marketplace sidelines

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National Bank of Canada says it is purchasing Canadian Western Bank successful a stock speech transaction that values nan Edmonton-based lender astatine astir $5 billion.

The companies opportunity nan woody brings together 2 complementary banks pinch increasing businesses and nan mixed entity will connection nationalist standard while maintaining a regionally focused work model.

The woody will spot each CWB share, different than those already held by National, exchanged for 0.45 of a communal stock of National Bank.

 'Impact of complaint trim connected lodging affordability'

3:55 Impact of complaint trim connected lodging affordability

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It says nan speech ratio values each CWB stock astatine $52.24, representing a 110-per-cent premium to Tuesday’s closing value of $24.89.

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The woody is taxable to definite customary conditions and must beryllium approved by regulators and two-thirds of Canadian Western Bank’s shareholders.

The transaction is expected to adjacent by nan extremity of adjacent year.

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