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US/Canada: TD’s rumored bid for Citizens could be largest deal since financial crisis

 |  October 14, 2013

Canadian TD Bank’s rumored interest in acquiring US-based Citizens Bank is gaining traction, according to reports, in what could be the largest financial services buyout since the 2008 financial crisis.

Reports say TD Bank may be looking to acquire the US branch of Royal Bank of Scotland, which RBS has been looking to divest, especially as UK regulators are considering a forced breakup of the lender.

Whether the government will follow-through with the RBS breakup is expected to be announced in the following weeks.

Citizens is currently worth about $118 billion, which, according to analysts, may post an obstacle in the way of TD’s potential buyout. Financing issues could threaten a deal, and TD’s growing influence in the US market could also raise eyebrows.

Last February, reports said TD denied any plans to acquire Citizens.

Full Content: Fox Business

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