News & Events

The firm is representing The Toronto-Dominion Bank (TD Bank) in its acquisition of the approximately 43% of TD Banknorth Inc. that it does not currently own. Under the terms of the merger agreement, which was announced on November 20, 2006, minority stockholders of TD Banknorth will receive $32.33 in cash per share, for an aggregate transaction value of approximately $3.2 billion. The transaction is subject to approval of the holders of a majority of the shares of common stock of TD Banknorth not owned by TD Bank and other customary conditions and is expected to be completed in March or April of 2007. TD Bank was invited to make a proposal for a going-private transaction by an independent committee of TD Banknorth’s board of directors pursuant to the agreement governing TD Bank’s majority investment in TD Banknorth. The Firm represented TD Bank in its acquisition of 51% of the outstanding common stock of TD Banknorth in a transaction completed in 2005.

The Simpson Thacher team includes Lee Meyerson, Ellen Patterson, Irina Petrova and Soo Chung (M&A); Brian Robbins and Carl Berry (Benefits); Gary Mandel and Noah Beck (Tax); and Gary Rice (Bank Regulatory).