TD Bank Group Mergers and Acquisitions Summary

Financial Services Company

TD Bank Group has acquired 6 companies, including 2 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 1 asset.

TD Bank Group’s largest acquisition to date was in 2007, when it acquired Commerce Bancorp for $8.5B. It’s largest disclosed sale occurred in 2005, when it sold TD Waterhouse USA to TD Ameritrade Holding for $2.9B. TD Bank Group has acquired in 4 different US states, and 2 countries. The Company’s most targeted sectors include financial services (84%) and information technology (17%).

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M&A Summary

  • M&A Total Activity7
    • M&A Buy Activity6
    • M&A Sell Activity1
  • Total Sectors Invested 2
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 3
  • M&A Advisors 6

TD Bank Group

Toronto-Dominion Centre King Street West and Bay Street PO Box 1,
Toronto, Ontario M5K 1A2
Canada,
(416) 308-6963
www.td.com

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (TD or the Bank). TD is a large bank North American bank serving customers in four key businesses operating in a number of locations in key financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Insurance; Wealth Management, including TD Waterhouse and an investment in TD Ameritrade; U.S. Personal and Commercial Banking, including TD Bank, America's Most Convenient Bank; and Wholesale Banking, including TD Securities. TD Bank was founded in 1855 and is based in Toronto, Canada.


M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.2/yr) # 5 - - 1 - - 6
vol $14.9B $14.9B
Sell (0.0/yr) # 1 - - - - - 1
vol $2.9B $2.9B
  7

Most Recent M&A

Company Date Value Type
Layer 6, Inc. 2018-01-09 - Add-on Acquisition
Toronto, Ontario · www.layer6.ai
Nordstrom - Credit Card Receivables Portfolio 2015-05-26 - Divestiture
, United States
TD Auto Finance LLC 2010-12-21 6.3B USD Add-on Acquisition
Farmington Hills, Michigan · www.tdautofinance.com
The South Financial Group 2010-05-17 61M USD Add-on Acquisition
Greenville, South Carolina
Commerce Bancorp Inc. 2007-10-02 8.5B USD Add-on Acquisition
Cherry Hill, New Jersey
TD Waterhouse USA 2005-06-22 2.9B USD Divestiture
, United States
TD Banknorth, Inc. 2004-08-26 - Stake Purchase
Cherry Hill, New Jersey · www.tdbank.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
TD Banknorth, Inc.    - TD Insurance, Inc. 2012-08-22 2
Cherry Hill, New Jersey · www.tdbank.com Portland, Maine
TD Banknorth, Inc.    - Flatiron Credit Company, Inc. 2008-05-01 1
Cherry Hill, New Jersey · www.tdbank.com Denver, Colorado
TD Banknorth, Inc.    - Hudson United Bancorp. 2005-07-12 1
Cherry Hill, New Jersey · www.tdbank.com Mahwah, New Jersey

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 5 (83%) 14.9B (100%) 1 (100%) 2.9B (100%)
Information Technology 1 (17%) - - -
Total 6 $14.9B 1 $2.9B

By Geo

State/Country Buy Value Sell Value
United States 5 14.9B 1 2.9B
  New Jersey 2 8.5B - -
  South Carolina 1 61M - -
  Michigan 1 6.3B - -
Canada 1 - - -
  Ontario 1 - - -
Domestic 1 (17%) - - -
Cross-border 5 (83%) 14.9B (100%) 1 (100%) 2.9B (100%)
Total 6 $14.9B 1 $2.9B

Top M&A Advisors

Financial Deals
J.P. Morgan Securities LLC
1
TD Securities
1
Keefe, Bruyette, & Woods, Inc.
1
Legal Deals
Simpson Thacher & Bartlett LLP
2

Deal Values

buy # Total
> $1B 2 $14.8B
< $100M 1 $61M
TOTAL $14.9B
Largest Commerce Bancorp Inc.
$8.5B (2007-10-02)
sell # Total
> $1B 1 $2.9B
TOTAL $2.9B
Largest TD Waterhouse USA
$2.9B (2005-06-22)

M&A Connections

Deals %
Acquired from
PE Firm(s)
50%
1 50%
Strategic(s)
50%
1 50%
Divested to
Strategic(s)
100%
1 100%

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