- First Horizon ( NYSE: FHN ) plummeted 23% in premarket trading after TD Bank ( NYSE: TD ) said it doesn't expect it will receive regulatory d in time to complete its acquisition by May 27.
- TD can't provide a new close date at this time, the Canadian bank said in a 10-K filing.
- TD has initiated discussions with FHN regarding a potential further extension of the outside date, according to the filing. "There can be no assurance that an extension will ultimately be agreed or that TD will satisfy all regulatory requirements so that the regulatory approvals required to complete the deal will happen.
- Developing story ...
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First Horizon plunges as TD says it won't receive regulatory in time for May close