Bank of Montreal Acquires 12 Ontario Branches from TD Financial Group

On May 7, 2000, Bank of Montreal announced that it will acquire 12 branches and substantially all of their branch business from the Toronto-Dominion Bank and the Canada Trust Company in Kitchener-Waterloo and Port Hope for $51 million. The transaction involves nearly $1.4 billion in funds under administration, approximately 120,000 customers, and 186 employees at six TD Bank and six Canada Trust branches.

Fraser Milner acted for the Bank of Montreal on the transaction with a team that included Mike Kaplan (corporate/commercial), Russ Kowalyk (financial services), Susan Paul (competition law), Audrey Mak (pensions and benefits), Dennis Wiebe (financial services), Susan Jackson (real estate) and Kristin Taylor (employment). Keith Perrett of the Bank of Montreal’s legal department co-ordinated all legal matters on behalf of the Bank. The Toronto-Dominion Bank and The Canada Trust Company were represented by Iain Scott and Andrew Armstrong of McCarthy Tétrault.


Dennis R. Wiebe Susan A. Paul Michael Kaplan Andrew R. Armstrong Russel Z. Kowalyk