Canadian Western Bank shareholders approve National Bank takeover
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$1 per week for 24 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $4.00 plus GST every four weeks. After 24 weeks, price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Winnipeg Free Press access to your Brandon Sun subscription for only
$1 for the first 4 weeks*
*$1 will be added to your next bill. After your 4 weeks access is complete your rate will increase by $0.00 a X percent off the regular rate.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 03/09/2024 (369 days ago), so information in it may no longer be current.
EDMONTON – Canadian Western Bank says shareholders have overwhelmingly voted in favour of a sale of the company to National Bank of Canada.
Edmonton-based CWB says the vote at the special meeting Tuesday was 99.78 per cent in favour of the all-share deal.
The two banks announced the proposal in June that would see Montreal-based National Bank take over mid-sized CWB at a roughly $5 billion valuation.
The deal represented a more than 100 per cent premium to where CWB was trading before the deal was announced.
The takeover would see National Bank expand further westward as it takes on CWB’s Alberta and B.C.-focused operations.
The proposal still requires regulatory approval, but if secured the deal is expected to close next year.
This report by The Canadian Press was first published Sept. 3, 2024.
Companies in this story: (TSX:CWB; TSX:NA)