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EDMONTON — Canadian Western Bank says shareholders have overwhelmingly voted in favour of a sale of the corporate to National Bank of Canada.
Canadian Western Bank shareholders approve National Bank takeover Back to video
Edmonton-based CWB says the vote on the particular assembly Tuesday was 99.78 per cent in favour of the all-share deal.
The two banks introduced the proposal in June that might see Montreal-based National Bank take over mid-sized CWB at a roughly $5 billion valuation.
The deal represented a greater than 100 per cent premium to the place CWB was buying and selling earlier than the deal was introduced.
The takeover would see National Bank increase additional westward because it takes on CWB’s Alberta and B.C.-focused operations.
The proposal nonetheless requires regulatory approval, but when secured the deal is anticipated to shut subsequent 12 months.
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