National Bank CEO expects CWB takeover to close sooner than expected.

Canadian National Bank CEO, Laurent Ferreira, expects the bank's $5 billion acquisition of Canadian Western Bank (CWB) to be completed earlier than originally anticipated. Discussions with regulators are progressing faster than expected, although Ferreira did not provide a specific timeline for the deal's closure. The proposed transaction, which was announced in June, would value CWB shares at $52.24, representing a significant 110% premium. National Bank views the takeover as a diversification strategy to expand its lending portfolio outside of Quebec by 37%. Additionally, the bank recently unveiled its new head office in Montreal, a 40-storey tower called National Bank Place, costing approximately $500 million. [Extracted from the article]