TD Bank and Citigroup Benefit from BCE's Collapsing Takeover

Toronto-Dominion Bank (TD) caught a break from investors turning their back on Financials stocks these days, thanks to the news Wednesday that BCE Inc.'s (BCE) C$52-billion takeover may collapse,

TD Bank, a part of the banking syndicate financing the privatization bid, were up almost 2% today on the belief the bank will dodge possible writedowns if the deal is quashed. Citigroup Inc. (C) another member of the syndicate, was also on the uptick, rising more than 18% in New York.

Meanwhile, four of Canada's remaining "big banks" are floundering in negative territory.

National Bank of Canada is the biggest loser so far, falling more than 5% after it preannounced it would writedown approximately C$158-million after taxes when it reports fourth quarter earnings next week.

Comments

[geocpa:]

Quest:
What is C fair value per share?

2008 Nov 28 11:13 AM

[sumosama:]

20...too long to explain here. IMHO...

Long C.


On Nov 28 11:13 AM geocpa wrote:

> Quest:
> What is C fair value per share?

2008 Dec 01 04:10 PM

[Synergy:]

TD Bank should be focusing on their customer retention and quality control issues internally, not their branding. It is not business as usual. In today's climate they should be focusing on recapturing what made them special. Personally, I opened my account with commerce when they first opened their Devon branch back in the mid-80's. Today, I am closing my personal accounts, pulling my company's business accounts and holding and urging my friends and family to do the same. There are plenty of other facilities out there ready and willing to value our business, and give us the attention we, as consumers deserve.

2008 Dec 11 10:49 AM