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Toronto-Dominion Bank has made a preliminary offer of about $600-million to buy wealth management firm Richardson GMP Ltd., according to people familiar with the sale process. (Chris Watti/Reuter)
Toronto-Dominion Bank has made a preliminary offer of about $600-million to buy wealth management firm Richardson GMP Ltd., according to people familiar with the sale process. (Chris Watti/Reuter)

TD makes $600-million bid to buy Richardson GMP: sources Add to ...

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Toronto-Dominion Bank has made a preliminary offer of about $600-million to buy wealth management firm Richardson GMP Ltd., according to people familiar with the sale process.

TD, Canada’s second-largest bank by assets, recently sought an extension on its exclusivity to perform due diligence on the asset before making a binding bid. The bank’s due diligence period with Richardson GMP runs until Nov. 22, one of those people said.

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