Canada's TD Bank Adds to Its Burgeoning US Empire with $13 Billion Deal
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Toronto's Bay Street is a 500-mile drive and a border crossing away from New York's storied Wall Street district, where bright American flags hang from the iconic Stock Exchange. But in Canada's financial capital, among flags with red and white but no blue, is the headquarters of an increasingly notable US banking player.
Toronto Dominion Bank -- or TD as it's more widely known -- announced its latest major US acquisition Monday, paying $13.4 billion for Tennessee's First Horizon Bank and paving the way for a big role in America's retail banking space.
Source Fool.com
