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National Bank completes acquisition of Canadian Western Bank
National Bank completes acquisition of Canadian Western Bank Canada NewsWire ...
About this update from National Bank Of Canada
[{"type":"text","content":"\n\n\n\n National Bank completes acquisition of Canadian Western Bank\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n\n MONTREAL\n \n and\n \n EDMONTON, AB\n \n\n ,\n \n\n Feb. 3, 2025\n \n\n /CNW/ - National Bank of\n \n Canada\n \n (\"National Bank\") (TSX: NA) today announced the completion of its previously announced acquisition of Canadian Western Bank (\"CWB\").\n \n\n\n\n\n\n\n\n\n \"Today is an exciting day for National Bank and marks a pivotal step in our history. This transaction will allow us to deliver a stronger banking choice for all Canadians and Canadian businesses. Our combined organization will provide customers with an expanded product and service offering nationally, while maintaining regional expertise. Thanks to CWB's established roots in\n \n Western Canada\n \n , National Bank is expanding its operations. We will pull strengths from our collective network and further extend the depth and breadth of our banking capabilities,\" said\n \n Laurent Ferreira\n \n , President and CEO of National Bank.\n \n\n With the closing of the transaction, integration activities will begin, and further transition will continue. National Bank looks forward to onboarding CWB clients and employees in the coming months.\n \n\n For more information on this transaction, please visit:\n \n welcome.nbc.ca\n \n\n\n\n Transaction Details\n \n\n\n The acquisition was completed by way of a share exchange, pursuant to which each CWB common share, other than those held by National Bank, was exchanged for 0.450 of a common share of National Bank, representing equity consideration of\n \n $5.3B\n \n and a total equity value of\n \n $5.6B\n \n inclusive of the shares already held by National Bank. The CWB common shares are expected to be delisted from the Toronto Stock Exchange (the \"TSX\") as of the close of business on\n \n February 4, 2025\n \n . More information regarding the transaction is provided...