TD Bank bids $13B for First Horizon in southeastern US push

Published February 28, 2022 8:51 AM

By MICHELLE CHAPMAN
AP Business Writer

Toronto-Dominion Bank is buying regional bank First Horizon in a $13.4 billion all-cash deal that will help broaden its reach in the southeastern U.S. TD Bank Group will pay $25 per First Horizon Corp. share. The companies said that the deal will create a combined business that is in the top six banks in the U.S., with approximately $614 billion in assets and a network of 1,560 stores, serving over 10.7 million U.S. customers across 22 states.