SAN FRANCISCO (Thomson Financial) - Scotiabank has agreed to acquire E-Trade
Canada from its U.S. parent E-Trade Financial Corp. for $442 million in cash,
the companies said late Monday.
E-Trade Canada has around $4.7 billion assets under administration,
Scotiabank said.
The deal is expected to closed in the third quarter of 2008.
E-Trade Financial shares closed the regular session down 26 cents, or 9.6%,
at $2.46. U.S.-listed Scotiabank shares were trading down $1.45, or 3.2%, at
$43.67 at the closing bell.
Brigid Gaffikin
bg/kh
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