National Bank of Canada has agreed to buy Canadian Western Bank in a deal valued at $5 billion, the companies said on Tuesday.
The deal for $52.24 per share represents a 110 per cent premium to CWB’s last close.
The banks said each CWB share will be exchanged for 0.450 of a common share of National Bank.
The deal is expected to close by the end of 2025.
(Reporting by Manya Saini in Bengaluru; Editing by Vijay Kishore)
