TD Bank and First Horizon call off $13.4-billion merger deal

But TD appeared to remain committed to the deal. When asked if he was still interested in buying First Horizon at TD’s annual shareholder meeting on April 20, TD chief executive Bharat Masrani had said: “We see the benefits of the merger.” He offered few other details about the state of the transaction.

John Aiken, senior analyst and head of research at Barclays Bank PLC, said the original deal price no longer made sense, but he expressed surprise that the parties scrapped the deal entirely.

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