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First Horizon Shares Fall More Than 40% After TD Bank Merger Fails

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CEO Bryan Jordan said the closed merger was “unfortunate and unexpected.”

it had mutually agreed to terminate its merger with TD Bank, after shares in the regional firm had fallen below its deal price and a prolonged regulatory

approval process.© 2022 Bloomberg Finance LPFirst Horizon pre-market shares fell 40%—from $15 to below $9—since the merger was terminated as of 8:45 a.m. Thursday.

 

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