The deal marks TD's second acquisition bid in the United States this year and the Canada's second-largest lender by market value has made no secret of its ambitions to expand in the world's biggest economy. TD will fund the acquisition from the $1.9b proceeds from the sale of shares of Charles Schwab , announced on Monday.
| less than a minute read
Canada's TD Bank eyes further U.S. expansion with $1.3b Cowen purchase
The transaction is "modestly positive (for TD), especially given that it is on-strategy with the bank’s push into its U.S.-dollar platform," Credit Suisse Analyst Joo Ho Kim wrote in a note.
