EQB Inc. (EQB.TO), Friday announced that it has received the Competition Bureau's clearance for the previously announced proposed acquisition of President's Choice Bank or PC Bank, PC Financial Insurance Agency Inc., PC Financial Insurance Brokers Inc. and certain other affiliated entities of PC Bank.
Notably, the proposal also requires approval by the Office of the Superintendent of Financial Institutions and the Minister of Finance.
"The Competition Bureau's approval moves us closer to bringing together two banks built on a shared belief: Canadians deserve better," said Chadwick Westlake, President and CEO, EQB.
Currently, EQB is trading at $117.22, down 0.59 percent on the Toronto Exchange.
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