National Bank of Canada has announced its plans to acquire Canadian Western Bank (CWB) in a deal worth approximately $5 billion. The acquisition is part of National Bank's strategic plan to accelerate growth across all its business lines in Canada.National Bank will acquire all of the issued and outstanding common shares of CWB by way of a share exchange, valuing CWB at approximately $5 billion. The acquisition is expected to be accretive to adjusted EPS on run-rate cost and funding synergies, with National Bank identifying $270 million of pre-tax annual cost and funding synergies.The combined bank will have a stronger presence in Western Canada, with a larger network and joint resources to increase banking and wealth management activities. CWB customers will benefit from access to National Bank's leading capital markets franchise, while National Bank customers will gain access to CWB's expertise in equipment finance and trust services, said a press release Tuesday from the banks.The acquisition is subject to approval by CWB shareholders and regulatory approvals, with the transaction expected to close by the end of 2025. The deal is not subject to any financing condition, and National Bank has secured a subscription receipt offering of $1 billion to fund the acquisition.Laurent Ferreira, President and CEO of National Bank, stated that the transaction is about growth and brings together two banks with complementary footprints in personal and commercial banking. Chris Fowler, CEO of CWB, expressed confidence that the combination will create incredible value for clients, teams, communities, and shareholders.National Bank has committed to maintaining a strong presence in Edmonton, with executive and operational leaders based out of the city..This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
National Bank of Canada has announced its plans to acquire Canadian Western Bank (CWB) in a deal worth approximately $5 billion. The acquisition is part of National Bank's strategic plan to accelerate growth across all its business lines in Canada.National Bank will acquire all of the issued and outstanding common shares of CWB by way of a share exchange, valuing CWB at approximately $5 billion. The acquisition is expected to be accretive to adjusted EPS on run-rate cost and funding synergies, with National Bank identifying $270 million of pre-tax annual cost and funding synergies.The combined bank will have a stronger presence in Western Canada, with a larger network and joint resources to increase banking and wealth management activities. CWB customers will benefit from access to National Bank's leading capital markets franchise, while National Bank customers will gain access to CWB's expertise in equipment finance and trust services, said a press release Tuesday from the banks.The acquisition is subject to approval by CWB shareholders and regulatory approvals, with the transaction expected to close by the end of 2025. The deal is not subject to any financing condition, and National Bank has secured a subscription receipt offering of $1 billion to fund the acquisition.Laurent Ferreira, President and CEO of National Bank, stated that the transaction is about growth and brings together two banks with complementary footprints in personal and commercial banking. Chris Fowler, CEO of CWB, expressed confidence that the combination will create incredible value for clients, teams, communities, and shareholders.National Bank has committed to maintaining a strong presence in Edmonton, with executive and operational leaders based out of the city..This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.