Royal Bank of Canada to buy HSBC Bank Canada for $13.5 billion via financialpost
Canada’s biggest bank will acquire all of HSBC Canada’s shares at a price that works out to 9.4 times the unit’s adjusted 2024 earnings of $1.4 billion, RBC said.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way.
“ is a fantastic franchise that operates in our home market in businesses that we are very good at, while also adding complementary products and a differentiated client base,” RBC president and chief executive officer Dave McKay said during an analyst call following the announcement.Article content RBC estimates that the transaction will add six per cent to earnings per share in 2024, as well as provide a 14 per cent internal rate of return. The acquisition comes months after RBC acquired U.K.-basedThis advertisement has not loaded yet, but your article continues below.“I am pleased that we have reached an agreement with RBC,” said HSBC Group chief executive officer Noel Quinn in a
One issue that could stand in the way of a seamless transaction is competition concerns, said National Bank of Canada analyst Gabriel Dechaine, who also noted the purchase price was about 30 per cent greater than his team expected.Article content
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Royal Bank of Canada to buy HSBC Bank Canada for $13.5 billionThe Royal Bank of Canada said on Tuesday that it will acquire HSBC Canada for an all\u002Dcash transaction of $13.5 billion. Find out more.
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Royal Bank of Canada to buy HSBC Bank Canada for $13.5 billionThe Royal Bank of Canada said on Tuesday that it will acquire HSBC Canada for an all\u002Dcash transaction of $13.5 billion. Find out more.
Read more »
Royal Bank of Canada to buy HSBC Bank Canada for $13.5 billionThe Royal Bank of Canada said on Tuesday that it will acquire HSBC Canada for an all\u002Dcash transaction of $13.5 billion. Find out more.
Read more »
Royal Bank of Canada to buy HSBC Bank Canada for $13.5 billionRBC says the purchase price is 9.4 times HSBC Canada's adjusted 2024 earnings of $1.4 billion; the deal is expected to close by late-2023
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Royal Bank of Canada to buy HSBC Bank Canada for $13.5 billionThe Royal Bank of Canada said on Tuesday that it will acquire HSBC Canada for an all\u002Dcash transaction of $13.5 billion. Find out more.
Read more »
Royal Bank of Canada signs deal to buy HSBC Canada for $13.5 billionRoyal Bank of Canada has signed deal to acquire HSBC Bank Canada for $13.5 billion in cash.
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