TD Bank Financial Group to acquire the South Financial Group
TD Bank Financial Group Inc. today announced that it has signed a definitive agreement with The South Financial Group, Inc. , for TD to acquire 100% of the outstanding common shares of South Financial for approximately $61 million in cash or TD common stock.
Bank of America Corp has decided to sell its credit card business in Canada to TD Bank Group as a part of plan by the largest US bank to shed assets and rebuild its capital base, Economic Times reported.