National Bank Buys Western Canada Rival in $3.6 Billion Deal.

The National Bank of Canada has announced its acquisition of Canadian Western Bank for approximately C$5 billion ($3.6 billion). The deal, which requires approval from CWB shareholders and the Canadian government, will see National Bank pay C$52.24 per share, a premium of 110% over CWB's closing price on Tuesday. National Bank CEO Laurent Ferreira stated that the transaction aims to support growth and combines the strengths of both banks in personal and commercial banking, particularly in Western Canada. National Bank has also identified C$270 million in cost and funding synergies. [Extracted from the article]