May 04 2023 - 06:00AM
PR Newswire (US)
TD Bank Is Unable to Obtain Timetable for Regulatory Approvals for Reasons Unrelated to First Horizon
TORONTO and MEMPHIS, Tenn., May 4, 2023 /PRNewswire/ -- TD Bank Group (TSX and NYSE: TD) ("TD") and First Horizon Corporation (NYSE: FHN) ("First Horizon" or "the Company") today announced that they have entered into a mutual agreement to terminate their previously announced merger agreement, originally announced on February 28, 2022. TD informed First Horizon that TD does not have a timetable for regulatory approvals to be obtained for reasons unrelated to First Horizon. Because there is uncertainty as to when and if these regulatory approvals can be obtained, the parties mutually agreed to terminate the merger agreement.
Under the terms of the termination agreement, TD will make a $200 million cash payment to First Horizon. This payment is in addition to the $25 million fee reimbursement due to First Horizon pursuant to the merger agreement. The shares of First Horizon Series G Preferred Stock that TD Bank purchased will continue to reflect a conversion price of $25 per share. Neither party will pay any other fees or have any other liabilities to each other related to the merger agreement.
[....]
Source:
https://ih.advfn.com/stock-market/NYSE/first-horizon-FHN/stock-news/90956546/td-bank-and-first-horizon-mutually-agree-to-termin
Marker:
$9.999 -5.051 (-33.56%)
Volume: 82,847,250
![Bearish](/static/images/ih2-bear.png)
The currency of life..is TIME.
Recent FHN News
- First Horizon Recognized by TIME Magazine • PR Newswire (US) • 07/25/2024 06:00:00 PM
- First Horizon Declares Cash Dividends on Common and Preferred Stock • PR Newswire (US) • 07/23/2024 08:15:00 PM
- Tech-Led Decline in U.S. Index Futures Pre-Market, Oil Prices Steady After U.S. Inventory Drop • IH Market News • 07/17/2024 10:30:52 AM
- First Horizon Corporation's Momentum Continues with Strong Second Quarter 2024 Results; Net Income Available to Common Shareholders of $184 Million or EPS of $0.34; $195 Million or $0.36 on an Adjusted Basis, up $0.01 from prior quarter* • PR Newswire (US) • 07/17/2024 10:30:00 AM
- First Horizon Bank honored by Junior Achievement with U.S. President's Volunteer Service Award • PR Newswire (US) • 06/26/2024 02:00:00 PM
- First Horizon Named to the Forbes America's Best-In-State Banks 2024 • PR Newswire (US) • 06/25/2024 02:00:00 PM
- First Horizon Foundation Awards $1.6 Million to Grants for Good Recipients • PR Newswire (US) • 06/18/2024 02:00:00 PM
- First Horizon Bank has been named to the Financial Brand's Power 100 Banks Using Social Media • PR Newswire (US) • 06/17/2024 06:00:00 PM
- nCino Deploying Banking Advisor, a Generative AI Solution to Drive New Efficiencies in Financial Institutions • GlobeNewswire Inc. • 06/17/2024 11:30:00 AM
- First Horizon Corporation to Announce Second Quarter Financial Results on July 17, 2024 • PR Newswire (US) • 06/14/2024 08:15:00 PM
- First Horizon Bank Recognized as One of Forbes America's Best Employers for New Grads 2024 • PR Newswire (US) • 05/22/2024 03:00:00 PM
- First Horizon Corporation to Participate at the Morgan Stanley US Financials, Payments & CRE Conference • PR Newswire (US) • 05/21/2024 08:15:00 PM
- Travis LeMonte named Director of Private Client Services of First Horizon Bank • PR Newswire (US) • 05/21/2024 02:00:00 PM
- First Horizon Recognized in 2023 Greenwich Excellence and Best Brand Awards • PR Newswire (US) • 05/20/2024 03:00:00 PM
- FIRST HORIZON RECOGNIZED AS A TOP 100 BEST ADOPTION-FRIENDLY WORKPLACE • PR Newswire (US) • 05/16/2024 02:00:00 PM
- First Horizon Corporation honored as a 2024 VETS Indexes Recognized Employer • PR Newswire (US) • 05/15/2024 03:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 09:28:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 09:26:49 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 09:25:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 09:24:20 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 09:23:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 09:18:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 09:15:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 09:10:13 PM
- First Horizon Signs Statement of Support for the Guard and the Reserve • PR Newswire (US) • 05/09/2024 07:45:00 PM
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution • GDLG • Jul 26, 2024 12:30 PM
Southern Silver Files NI43-101 Technical Report for its Updated Preliminary Economic Assessment for the Cerro Las Minitas Project • SSV • Jul 25, 2024 8:00 AM
Greenlite Ventures Completes Agreement with No Limit Technology • GRNL • Jul 19, 2024 10:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • NBRI • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM