Canadian Western Bank to Reorganize Capital with National Bank

Canadian Western Bank (TSE:CWB) has released an update.

National Bank of Canada and Canadian Western Bank are planning a reorganization of CWB’s tier 1 capital, which involves exchanging CWB’s Preferred Shares into new National Bank Preferred Shares. This reorganization is part of National Bank’s acquisition of all common shares of CWB and requires approval from various financial authorities.

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