Laurentian Bank Soars by Most Since 1989 Amid Deal Speculation
- Shares jump 44% after bank announces review for potential sale
- Bay Street analysts already speculating on potential suitors
A Laurentian Bank branch in Montreal.
Photographer: Graham Hughes/BloombergThis article is for subscribers only.
Laurentian Bank of Canada surged the most since 1989 Wednesday after kicking off a strategic review looking into potential buyers.
The Montreal-based lender, Canada’s eighth-largest by assets, jumped as much as 44% following the announcement, made after the close Tuesday. Shares pared gains later in the session, trading up about 27% as of 1:36 p.m. Toronto time.