TD - Is TD Bank's Planned Acquisition of First Horizon on the Chopping Block?
2023-03-10 05:51:00 ET
Recently, Toronto-Dominion Bank (NYSE: TD) revealed that it would not be able to obtain all necessary regulatory approvals in order to complete its planned acquisition of First Horizon (NYSE: FHN) before the two banks' merger agreement expires in May.
TD and First Horizon already had to extend their merger agreement from February until May and now will need to do so again, which suggests that it's been harder than expected to receive regulatory approval. Since the Biden administration took over, the Federal Reserve and other banking agencies have seemingly taken a much stricter approach to bank acquisitions and mergers.
Is TD Bank's acquisition of First Horizon potentially on the chopping block? Let's take a look.
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Is TD Bank's Planned Acquisition of First Horizon on the Chopping Block?