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

By  |  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.

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    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.

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    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.

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