Topic: How To Invest

The Successful Investor Hotline – Friday, July 13, 2018

Article Excerpt

TORONTO-DOMINION BANK, $75.95, Toronto symbol TD, will now acquire Regina-based wealth management firm Greystone Managed Investments Inc. That privately held business serves institutional investors, and has $36 billion in assets under management. The purchase will make TD the largest wealth management firm in Canada, with $393 billion in assets under management. TD will pay $729 million (70% cash and 30% in TD shares) for Greystone when it completes the purchase later this year. To put that price in context, the bank earned $3.06 billion, or $1.62 a share, in the three months ended April 30, 2018. Excluding integrations costs, the new operation should add to TD’s earnings in the first year. OUR RECOMMENDATION: TD Bank is a buy. TD Bank recent coverage May 2018 issue Hotline for Mar 2, 2018 NUTRIEN LTD., $69.83, Toronto symbol NTR, is the new firm formed by the merger of Agrium Inc. (old symbol AGU) and rival fertilizer producer Potash Corp. of Saskatchewan (old symbol POT). On January 1, 2018, Potash…