A class-action lawsuit has reportedly been filed against TD Bank following its failed attempt to acquire First Horizon Bank. The Arbitrage Fund, which is a First Horizon shareholder, is suing TD Bank, alleging that it made misleading statements and omissions about the planned purchase, Seeking Alpha reported Tuesday (May 23)....
In banking, “too big to fail” has become shorthand for financial firms of scale and reach so significant that any operational or financial difficulties may have ripple effects on the economy at large. In a congressional hearing on the proposed merger of SunTrust and BB&T,...
The U.S. banking industry is in flux, largely thanks to federal policy that has made it easier (and faster) for institutions to merge. As concerns are raised about how industry consolidation might impact competition, Federal Reserve Chairman Jerome Powell is warning that it could hinder...
Italy’s UniCredit and French rival Société Générale are planning to merge, which could lead to other big banking mergers throughout Europe. According to the Financial Times, sources say that Jean-Pierre Mustier, UniCredit’s French chief executive, has been working on the idea for several months. While the...
February 22, 2024
If Capital One’s planned acquisition of Discover Financial falls through, one firm or the other could pay a termination fee of $1.38 billion. This termination fee will be paid if the deal fails under any circumstance, Reuters reported Thursday (Feb. 22), citing a regulatory filing. The merger agreement provides termination rights for both companies and provides the […]
May 23, 2023
A class-action lawsuit has reportedly been filed against TD Bank following its failed attempt to acquire First Horizon Bank. The Arbitrage Fund, which is a First Horizon shareholder, is suing TD Bank, alleging...
June 04, 2018
Italy’s UniCredit and French rival Société Générale are planning to merge, which could lead to other big banking mergers throughout Europe. According to the Financial Times, sources say that Jean-Pierre Mustier,...
