Laurentian Bank would likely attract interest from all of the major banks and could fetch $2.6 billion if it goes up for sale. Read on.
John Aiken, head of research for Canada at Barclays PLC, said the process will at the very least spur some recognition that the stock is undervalued and should catch some upward share price momentum over the near term.
“A premium would be associated with this and you could see upwards of one times book-to-price on it, so almost like a double from the current price,” he said. Bank of Nova Scotia may be one of Laurentian’s most motivated suitors as it tries to gain market share in Quebec, Dechaine said.
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