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Canada’s regulator seeks information on RBC’s $13.5 billion takeover of HSBC unit
Canada’s regulator seeks information on RBC’s $13.5 billion takeover of HSBC unit By Reuters
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Published May 01, 2023 06:06PM ET
Updated May 01, 2023 06:12PM ET
(C) Reuters. A sign for the Royal Bank of Canada in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio
(Reuters) – Canada’s Competition Bureau on Monday sought information about Royal Bank of Canada’s $13.5 billion takeover of HSBC’s Canada business.
The deal is the biggest acquisition for RBC. The last time a deal of this size was attempted in the country was in the early 1990s, when RBC wanted to acquire rival Bank of Montreal but was blocked by regulators from doing so.
Canada’s regulator seeks information on RBC’s $13.5 billion takeover of HSBC unit
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