Commerce Bancorp (CBH) volatility at 36 into TD Bank Financial Group purchase of CBH
Commerce Bancorp (NYSE: CBH) : TD Financial Group announced the purchase of CBH in a 75% stock and 25% cash transaction valued at $8.5 billion. CBH shareholders will receive 0.4142 shares of TD common share and US$10.50 in cash. The consideration was negotiated on the basis of US$42. CBH over all option implied volatility of 36 is near its 6-month average of 35 according to Track Data. Paul Foster
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