Institutional Investing

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TD Bank Group to acquire Greystone Managed Investments Inc.

TORONTO, July 10, 2018 – The Toronto-Dominion Bank ("TD") (TSX and NYSE: TD) and Greystone Capital Management Inc. (“GCMI”), parent company of Greystone Managed Investments Inc. ("Greystone") today announced a definitive agreement whereby, subject to regulatory approval, TD will acquire GCMI for a net purchase price of $792 million, subject to certain adjustments. The net purchase price comprises $730 million of enterprise value, seed capital of approximately $105 million and certain other net adjustments. Under the proposed transaction, shareholders of GCMI will receive 30% of the net purchase price in TD common shares with the remaining balance payable in cash consideration. GCMI shareholders will have the ability to elect up to an incremental 20% of the net purchase price in TD common shares, for a maximum of 50% TD share consideration. Click here

July 15, 2020