TD Acquisition
On August 26, 2004, TD Bank Financial Group announced it had signed an agreement with Banknorth to acquire 51% of the outstanding shares of the company for a total of $3.8 billion US. Banknorth shareholders approved the transaction at a special meeting of shareholders on February 18, 2005, and final approval was announced on March 1, 2005. In connection with the transaction, Banknorth changed its name to TD Banknorth Inc. and reincorporated in Delaware.
All remaining shares of TD Banknorth were acquired by Toronto-Dominion Bank on April 20, 2007.
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Famous quotes containing the word acquisition:
“Wars and revolutions and battles are due simply and solely to the body and its desires. All wars are undertaken for the acquisition of wealth; and the reason why we have to acquire wealth is the body, because we are slaves in its service.”
—Socrates (469–399 B.C.)