Ottawa may force bank branch sale, report says

Article Abstract:

The merger between Toronto-Dominion Bank and Bank of Montreal may force the sale of a maximum of 11% of bank branches, according to a new report by Toronto, Ontario-based Commission Direct Inc., a securities trading and independent research provider . The report, which was sold by The Globe and Mail to 10 institutional investors, said that the federal Competition Bureau may push for the sale since more than half of the branches of the two banks will exceed the limit set by the guidelines for market concentration. York University professor Fred Lazar, who wrote the report, said that although the merger will violate the guidelines, a political compromise would me effected, thus resulting in divestiture of just around 275 to 330 branches.

Comment:

Merger w/ Toronto Dominion may force sale of up to 11% of bank branches, according to a new report by Commission Direct Inc.

Public affairs, Bank of Montreal

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TD shareholders get cold feet about merger

Article Abstract:

Some of Toronto-Dominion Bank's shareholders are uncertain about the company's proposed merger with Canadian Imperial Bank of Commerce. The shareholders are worried about the length of the time the deal could be completed. Analysts and institutional shareholders say that the deal should be renegotiated to provide better shareholder value, given that the gap between the two companies' stock prices continue to widen. Some shareholders want to have more shares of Commerce than what was originally agreed upon.

Comment:

Shareholders are uncertain about the company's proposed merger with Canadian Imperial Bank of Commerce

Stockholder data

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Laurentian Bank CEO got 21.5-per-cent raise

Article Abstract:

Laurentian Bank of Canada President and CEO Henri-Paul Rousseau received a 21.5% raise in 1998, allowing him to take home $865,772, including a $475,000 base salary and a $325,000 bonus. Rousseau also took home other compensation worth at $65,772 and options to acquire 45,000 common shares and another 55,000 'stock appreciation rights,' which works similar to stock options.

Management development, Laurentian Bank of Canada

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