BNS - Laurentian Bank drops on report of bidders dropping out of sales process
2023-07-28 15:06:06 ET
- Laurentian Bank ( OTCPK:LRCDF ) fell 7% on a report that a few banks have dropped out of the bidding process for the Canadian bank.
- Bank of Nova Scotia ( BNS ) and Toronto-Dominion Bank ( TD ) aren't bidding for Laurentian Bank, according to a Globe & Mail report from late Thursday, which cited people familiar with the matter.
- The deadline for the initial bids is the end of this month.
- Laurentian Bank ( OTCPK:LRCDF ) announced earlier this month that it was conducting a strategic review of its options. The Globe & Mail reported previously that the bank was said to have received a bid from an undisclosed bank that kicked off the sales process.
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Laurentian Bank drops on report of bidders dropping out of sales process