National Bank to Buy Western Canada Rival for $3.6 Billion.

The National Bank of Canada has agreed to acquire Canadian Western Bank for approximately $3.6 billion in stock. This deal will allow National Bank to diversify its earnings away from Quebec and expand its presence in Western Canada. The acquisition is subject to approval from CWB shareholders and the Canadian government and is expected to be completed by the end of 2025. National Bank plans to issue $1 billion in new equity, and Quebec's largest pension fund will invest $500 million in National Bank to help finance the deal. [Extracted from the article]