Shareholders Approve Purchase Of First Horizon By Canadian Bank

 First Horizon Corporation on Tuesday announced that it has received shareholder approval for the Toronto-Dominion Bank to acquire First Horizon.

The Toronto-Dominion Bank is a Canadian multi-national banking and financial services corporation headquartered in Toronto, Ontario.

The transaction is expected to close in the first quarter of TD's 2023 fiscal year subject to U.S. and Canadian regulatory approvals and the completion of other necessary closing conditions.

The TD Bank Group had announced an agreement Feb. 28 to buy First Horizon Corp. for $13.4 billion in cash. This follows a 2020 merger of Memphis-based First Horizon with IberiaBank Corp.

First Horizon was earlier known as First Tennessee Bank.