TD Bank Group Acquires First Horizon Corporation

February 28, 2022

Toronto-Dominion Bank (TD Bank Group) agreed to acquire First Horizon Corporation in an all-cash transaction valued at US$13.4 billion (US$25.00 per share). The deal creates a top-6 U.S. bank, giving TD immediate scale and presence across the U.S. Southeast while retaining First Horizon's Memphis hub and client-facing bankers.

Buyers
TD Bank Group (Toronto-Dominion Bank)
Targets
First Horizon Corporation
Sellers
First Horizon Corporation shareholders
Location
Tennessee, United States
Transaction Type
Buyout

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