National Bank of Canada says it’s received approval from the federal finance minister to acquire Canadian Western Bank.
National Bank stock is showing bearish momentum as it nears its takeover of Canadian Western Bank. Stock analyst John Aiken explains.
The Montreal-based National Bank said Friday the federal finance minister has approved the deal, marking the last milestone in the takeover set to be completed on Feb. 3, 2025. National Bank has called its takeover of the Edmonton-based Canadian Western Bank a key pillar of its domestic growth strategy for 2025. Ferreira said the acquisition will strengthen National Bank's position across the country and allow for more growth in Western Canada.
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