The Toronto-Dominion Bank
|Company Name||The Toronto-Dominion Bank|
On May 8, 2023, The Wall Street Journal reported that TD and First Horizon Corporation had called off TD’s proposed purchase of First Horizon Corporation, “citing uncertainty over whether and when they could receive regulatory approvals.” According to the article, “[t]he regulators’ concerns stemmed from the way TD handled unusual transactions in recent years, and the speed at which some of them were brought to the attention of U.S. authorities.”
On this news, TD’s share price fell $0.72, or 1.2%, to close at $61.53 per share on May 8, 2023, thereby injuring investors.
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