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Benzinga
Benzinga
Business
Adam Eckert

UNBELIEVABLE: Why first horizon shares are rising today - The Untold Story

First Horizon NYSE TD First Horizon Corp Toronto-Dominion Bank

First Horizon Corp (NYSE:FHN) is trading higher Monday after The Toronto-Dominion Bank (NYSE:TD) signed a definitive agreement to acquire the company for $25 per share in an all-cash transaction.

The transaction, which is expected to close in the first quarter of TD's 2023 fiscal year, is valued at $13.4 billion. TD aims to accelerate its long-term growth strategy in the U.S. by acquiring the regional bank, which has aligned culture and risk-management framework.

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