Toronto bank to acquire majority interest in Banknorth
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A Canadian banking group has reached an agreement to acquire a controlling interest in the parent of Evergreen Bank of Glens Falls.
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As criticism mounted yesterday over Banknorth Group's pending deal with a Canadian bank, chief executive William J. Ryan defended his decision to sell a majority stake in New England's largest independent bank, saying it is in the shareholders' best interest.
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TD Bank Financial Group and Banknorth Group Inc. said Thursday that they signed a definitive agreement for the Canadian bank to purchase a 51 percent stake in Portland, Maine-based Banknorth for about $3.
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Canada's T.D. Bank Financial Group is buying a controlling stake in Maine-based Banknorth for $3.8 billion.
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BCE Inc , Canada's largest telecommunications group, announced the biggest buyout in Canadian corporate history on Saturday, accepting an offer worth C$51.7 billion ($48.5 billion), including debt, from a group including the Ontario Teachers Pension Plan.
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For Bank of New York, the deal will bolster its position as a leader in the securities servicing and processing business.
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Cullen/Frost Bankers Inc.  on  Monday said it agreed to buy Summit Bancshares Inc.   for &#36;363.5 million of cash and stock in a merger of two Texas  banks.
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Toronto Dominion Bank will acquire 51 percent of US-based Banknorth Group Inc. in a $3.8 billion cash and stock deal that will allow TD to expand its reach in the Northeastern United States, TD said Thursday.
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Bank of Montreal, Canada&#39;s fifth- biggest bank, agreed to buy Mercantile Bancorp Inc., which has branches in northwestern Indiana, for $156.
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Toronto Dominion Bank TD.TO, Canada's  second-biggest by assets, said on Thursday it would acquire a  majority stake of U.S.-based Banknorth Group Inc. BNK.N,  while also boosting its dividend and reporting a 17-percent  rise in profits.
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Bank of America Corp.  on Monday said it will buy Charles Schwab Corp.'s  U.S. Trust Corp. unit for $3.3 billion to expand in the lucrative business of managing money for the rich.
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Banknorth Group Inc. solicited bids from several other large banks before deciding that a Canadian bank could acquire a majority stake in the company, chief executive William J. Ryan told analysts yesterday.
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Bill Ryan is spending the last days of the summer traveling across Canada and the United States to pitch big shareholders on the complicated plan to sell 51 percent of his Banknorth Group Inc. to Toronto-Dominion Bank .
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Bank of Montreal, Canada&#39;s fifth largest bank, said Wednesday it plans to buy privately held Mercantile Bancorp Inc., as well as the stock of Lake Commercial Corp.
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The owners of the Northern Bank have confirmed for the first time that it may be on the market. The National Australia Bank has said it will consider selling its operations on both sides of the Irish border.
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The Danske Bank Group has signed an agreement with National Australia Bank to purchase Northern Bank (www.nbonline.co.uk) in Northern Ireland and National Irish Bank (www.
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Canada&#39;s TD Bank Financial Group is discussing &quot;a possible transaction&quot; with the Northeast regional bank Banknorth Group Inc.