Canada’s TD Bank calls off $13.4-B First Horizon purchase, leaves U.S. bank in limbo

Canada’s Toronto-Dominion Bank Group on Thursday called off its $13.4 billion takeover of First Horizon Corp, triggering a near 40 percent fall in the U.S. regional bank‘s shares. First Horizon and TD said in a statement they had mutually decided to end the deal because there was no clarity on when they would get regulatory approvals. TD will pay $200 million to First Horizon, in addition to a $25-million fee reimbursement. … Continue reading Canada’s TD Bank calls off $13.4-B First Horizon purchase, leaves U.S. bank in limbo