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

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The deal, which valued First Horizon at US$13.4 billion when it was announced in February 2022, was called off because thedid not have clarity on if and when they would get the regulatory approvals, TD said in a statement.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.

The merger would have made TD the sixth-largest bank in the U.S. by assets. The transaction hit the first signs of trouble this February when TD warned First Horizon that it might not be able to gain regulatory approval by the extended deadline of May 27.

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