Why TD Bank's Failed Acquisition of First Horizon Corp May Have Come at a Good Time
Canada-based Toronto-Dominion Bank (NYSE: TD) recently terminated its planned $13 billion acquisition of First Horizon Corp (NYSE: FHN) after deciding that it couldn't see a reasonable path toward receiving regulatory approval from the Federal Reserve.
TD announced the acquisition of First Horizon in February 2022. This February, it had to extend its merger agreement deadline until May but announced before May that it was unlikely to receive regulatory approval before that extension ran out.
While First Horizon is an attractive franchise and would have greatly bolstered TD's significant U.S. presence, I think the failed acquisition is also coming at a good time. Here's why.
Source Fool.com
Toronto-Dominion Bank Stock
€51.43
1.290%
Based on 3 Buy predictions and 2 Sell predictions the sentiment towards Toronto-Dominion Bank is rather balanced.
As a result the target price of 86 € shows a very positive potential of 67.22% compared to the current price of 51.43 € for Toronto-Dominion Bank.
